Hong Kong-Based Crypto Unicorn Amber Group Eyes US Listing: Report

The financial services firm’s offering may raise regulatory eyebrows in the U.S.

Sep 23, 2021 at 2:18 p.m. UTC
Updated Sep 23, 2021 at 8:03 p.m. UTC

Jamie Crawley is a CoinDesk news reporter based in London.

Crypto financial services firm Amber Group is weighing a direct listing, with the U.S as the “likely destination,” according to its CEO.

  • A direct listing is “on the table” in the next two years, Michael Wu said in an interview with South China Morning Post.
  • “The U.S is a likely destination, but we’re open-minded,” he said.
  • Aspects of Amber’s plans may raise regulatory concern in the U.S. Amber allows customers to earn interest on crypto holdings by lending to other clients at a higher rate. Publicly listed crypto exchange Coinbase recently aborted plans to launch a similar service after the Securities and Exchange Commission threatened to sue it for offering what it considered to be an unregistered security product.
  • Amber Group also offers algorithmic, high-frequency and over-the-counter trading to institutional clients and has operations in Hong Kong, Taiwan, South Korea and Canada.
  • The company attained unicorn status in June following a $100 million funding round that gave it a valuation of $1 billion. Its investors include Tiger Global Management, Coinbase Ventures and Blockchain.com.


The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Jamie Crawley is a CoinDesk news reporter based in London.

CoinDesk - Unknown

Jamie Crawley is a CoinDesk news reporter based in London.

Trending

1
CoinDesk - Unknown
UK Regulator to Consider Terra Coins Collapse in New Crypto Rules: Report

Market instability in stablecoins will need to be taken into account, the FCA's executive director for markets said.

Market instability in stablecoins will need to be taken into account, the FCA's executive director for markets said.

CoinDesk - Unknown
2
CoinDesk - Unknown
Bitcoin Options Data Suggests Bearish Sentiment Among Investors

Put/call ratio for Bitcoin options reached yearly highs on Thursday, data shows.

Put/call ratio for Bitcoin options reached yearly highs on Thursday, data shows.

CoinDesk - Unknown
3
CoinDesk - Unknown
CoinDesk Cardano Price Index (ADX)

CoinDesk - Unknown
4
CoinDesk - Unknown
CoinDesk Smart Contract Platform Select Index (SCPX)

CoinDesk - Unknown