Amber Group continues strong financial performance in H1 2022!

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Resilient per­for­mance is a result of sus­tained busi­ness momen­tum, along with expand­ed prod­uct and ser­vice offer­ings against mar­ket uncertainties.

 Amber Group, a lead­ing glob­al dig­i­tal asset com­pa­ny, announced its H1 2022 finan­cial per­for­mance, with rev­enue of US$250m rep­re­sent­ing a 25% YoY growth com­pared to the pre­vi­ous year. Growth was achieved across all core busi­ness areas, led by its insti­tu­tion­al busi­ness and trad­ing oper­a­tions. The company’s con­sumer busi­ness, WhaleFin, also saw sig­nif­i­cant rev­enue growth, fol­low­ing the launch of WhaleFin Club, Amber Group’s new port­fo­lio specif­i­cal­ly tar­get­ed at high-net-worth individuals.

Amber Group’s record-set­ting finan­cial per­for­mance amidst glob­al macro­eco­nom­ic chal­lenges high­lights the company’s strong fun­da­men­tals and poten­tial for future growth. Despite mar­ket volatil­i­ty and an indus­try slow­down, Amber Group has remained prof­itable due to its lead­ing trad­ing infra­struc­ture, state-of-the-art trad­ing oper­a­tions, wide-span­ning client base, and effec­tive risk man­age­ment. Its H1 2022 per­for­mance also fol­lows a high­ly suc­cess­ful Series B+ invest­ment round involv­ing Singapore’s invest­ment com­pa­ny, Temasek, Sequoia Chi­na, Tiger Glob­al Man­age­ment and Pan­tera Cap­i­tal among oth­ers, ear­li­er this year.

Build­ing on this strong invest­ment momen­tum, Amber Group has out­per­formed chal­leng­ing mar­ket con­di­tions by strength­en­ing its core com­pe­ten­cies while con­tin­u­ing to grow and diver­si­fy its busi­ness lines. Its pri­vate wealth man­age­ment busi­ness in par­tic­u­lar grew sig­nif­i­cant­ly in H1 2022, sup­port­ed by the launch of new prod­ucts and ser­vices such as stak­ing and struc­tured prod­ucts offered as part of WhaleFin Club. 

Amber Group’s diver­si­fi­ca­tion strat­e­gy runs in tan­dem with its move to expand its glob­al foot­print while main­tain­ing its last­ing com­mit­ment to com­pli­ance, secu­ri­ty, and investor pro­tec­tion. The com­pa­ny is now a hold­er of 12 reg­u­la­to­ry licens­es glob­al­ly which include the Secu­ri­ties and Futures Com­mi­sion (SFC) Type 1, 2, 4, 5 and 9, Mon­ey Lender, and Trust or Com­pa­ny Ser­vice Provider licens­es in Hong Kong, 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 as a mem­ber of the Swiss Finan­cial Ser­vices Stan­dards Asso­ci­a­tion (VQF). 

Amber Group’s remark­able H1 2022 per­for­mance was also sup­port­ed by moves to strength­en user trust and con­fi­dence in dig­i­tal assets – a crit­i­cal com­mod­i­ty in an uncer­tain mar­ket cli­mate. In line with the company’s pri­or­i­ty to deliv­er on safe­ty and reli­a­bil­i­ty, Amber Group proac­tive­ly embarked on a series of ini­tia­tives in H1 2022 to estab­lish itself as one of the most secure and com­pli­ant orga­ni­za­tions in the dig­i­tal asset industry.

Recent key ini­tia­tives includ­ed an exter­nal attes­ta­tion of its secu­ri­ty con­trols and process­es accord­ing to Ser­vice Orga­ni­za­tion Con­trol (SOC) 2 Type II in a fol­low-up to its suc­cess­ful SOC 2 Type I attes­ta­tion ear­li­er this year as well as secur­ing 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. 

“Amber Group’s strong per­for­mance in H1 2022 is a tes­ta­ment to our resilient busi­ness mod­el and our strate­gic growth plan for the long-term. While cur­rent mar­ket con­di­tions con­tin­ue to be chal­leng­ing, we are con­fi­dent that the com­pa­ny is in a strong posi­tion to deft­ly nav­i­gate these con­di­tions and sus­tain the momen­tum on our growth tra­jec­to­ry. We remain focused on sus­tain­able growth and in H1 2022, our team has been mak­ing strate­gic invest­ments in core busi­ness areas aimed at deliv­er­ing sus­tain­able rev­enue growth, while main­tain­ing prof­itabil­i­ty. This remains our focus going into H2 2022. We are very excit­ed to con­tin­ue lead­ing the dig­i­tal assets indus­try and to realise the future of dig­i­tal finance for every­one,” said Amber Group’s Chief Exec­u­tive Offi­cer, Michael Wu. 

Media Con­tact

Elaine Wang

pr@ambergroup.io 

About Amber Group

Amber Group is a lead­ing full stack dig­i­tal asset firm, engaged in trad­ing, prod­ucts and infra­struc­ture. Amber Group works with com­pa­nies rang­ing from token issuers, banks and fin­tech firms, to sports teams, game devel­op­ers, brands and cre­ators. Oper­at­ing at the cen­ter of mar­kets, Amber pro­vides a full range of dig­i­tal asset ser­vices span­ning liq­uid­i­ty pro­vi­sion­ing, trad­ing, financ­ing, and invest­ing. Across all prod­ucts and cat­e­gories, Amber Group has turned over $1T in vol­umes since its inception. 

Amber Group is backed by the promi­nent ven­ture, indus­try, and sov­er­eign investors includ­ing Sequoia Cap­i­tal, Temasek, Par­a­digm, Tiger Glob­al, Drag­on­fly Cap­i­tal, Pan­tera Cap­i­tal, Coin­base Ven­tures, and Blockchain.com. 

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

Dis­claimer: This is a paid post and should not be treat­ed as news/advice.

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