Amber Group focuses on growth and strengthens its commitment to security and compliance amid market downturn

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Jul 20, 2022, 00:35 ET

SINGAPORE, July 20, 2022 /PRNewswire/ -- Amber Group remains committed to the overall growth of its business following a successful USD$200 million Temasek-led Series B+ round announced earlier this year. Valued at USD$3 billion, Amber Group operates from a position of strength amid volatilities in the global market. In recent weeks, the company has made significant moves to bolster business resilience and safeguard investors' assets and trust in the company.

Amid ongoing market uncertainty, Amber Group reiterated its commitment to democratizing financial opportunity through a landmark five-year partnership agreement with leading football club Atlético de Madrid. In addition to being the Official Global and Main Partner of Atlético de Madrid starting from the 2022/2023 season, Amber Group is the exclusive Official Digital Wealth and Digital Lifestyle Partner of Atlético de Madrid.

WhaleFin, the company's flagship digital asset platform, serves as the preferred digital asset gateway for Atlético de Madrid's fans, with its logo featured on the front of Atlético de Madrid's football kits this season. Amber Group also has exclusive rights to establish 'Atletiverse', a virtual space co-created by Atlético de Madrid and Amber Group's Web3 platform Openverse. Fans can expect one-of-a-kind fan experiences, and engage with like-minded fans from all over the world in the metaverse.

WhaleFin will also partner with the Atlético de Madrid Foundation to support public education campaigns around sustainability and conservation, and fund key initiatives and research projects in the region.

The partnership agreement was commemorated in a ceremony to kickstart the new football season at the Metropolitan Stadium, Madrid on Sunday, 17 July. For a recap of the ceremony and an exclusive look into 'Atletiverse', you may view it here.

Comprehensive insurance coverage for clients

Amber Group announced that it had secured comprehensive insurance coverage for its wallet infrastructure from A-rated insurance provider Arch Syndicate 2012 of Lloyd's of London and insurtech firm OneDegree. This is additionally supported by a multi-year reinsurance partnership with Munich Re. The company is set to continue building out a comprehensive global insurance plan that aggregates to over USD$100 million in coverage, protecting digital assets held in its wallet infrastructure on behalf of clients.

A strategic acquisition in Hong Kong to grow its customer base

Amber Group acquired Celera Markets Limited, a fully licensed financial group by the Securities and Futures Commission (SFC) of Hong Kong. The acquisition represents a significant milestone for Amber Group as it continues to strengthen its product portfolio, bridging the gap between traditional and digital finance globally. Through this acquisition, Amber Group has secured five types of SFC licence - Type 1, 2, 4, 5 and 9 - which allows the company to carry out a broad range of services that include advising on and dealing in securities and futures contracts as well as providing asset management services.

Setting the industry standard for regulatory compliance

Amber Group ranked among the top 5, recording a >90 score in the financial services category of the risk-scoring metric by Risktrail, the crypto-focused AML platform of blockchain analytics firm Hoptrail. Based on a select number of key criteria, that includes the number of licensing and registrations worldwide, Amber Group was found to have exceeded its industry peers with 12 regulatory licences, including the licenses in HK, registrations with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), the U.S. Department of Treasury Financial Crimes Enforcement Network (FINCEN), the Australian Transaction Reports and Analysis Centre (AUSTRAC), U.K. Financial Conduct Authority (FCA), and Japan Financial Services Agency (JFSA), and a member of the Swiss Financial Services Standards Association (VQF). This reflects the company's lasting commitment to compliance, security, and most importantly, investor protection as it strives to continue building trust and confidence in digital assets.

The company's new Chief Legal Officer

Amber Group is proud to welcome Benjamin Bai as its Chief Legal Officer. Having won numerous prestigious accolades such as the World's Top 300 IP Strategists and World's 50 Most Influential People in IP 2020, Benjamin brings over 25 years of unparalleled experience and knowledge in legal and compliance to Amber Group. A former Vice President and Chief IP and International Litigation Counsel at Ant Group, Benjamin's wealth of experience spanned roles having led a global team to secure the largest blockchain patent filings and grants globally as well as focusing on high-stake IP litigation and licensing for international law firms such as Jones Day and Allen & Overy.

Amber Group most recently rolled out an NFT function on WhaleFin, in an update to its flagship digital asset platform. The latest function integrates the functionality of NFTs as digital assets on WhaleFin, and enables users to easily deposit, withdraw, and display their NFTs on the app.

About Amber Group

Amber Group is a leading digital asset platform operating globally with offices in Asia, Europe, and the Americas. The firm provides a full range of digital asset services spanning investing, financing, and trading. Amber Group is backed by prominent investors including Sequoia, Temasek, Paradigm, Tiger Global, Dragonfly, Pantera, Coinbase Ventures, and Blockchain.com.

For more information, please visit www.ambergroup.io.

SOURCE Amber Group