Amber Group Raises $200M in Temasek-Led Round at $3B Valuation

The Singapore-based liquidity provider and trading infrastructure firm's valuation has tripled in less than a year.

AccessTimeIconFeb 22, 2022 at 7:42 a.m. UTC
Updated Feb 22, 2022 at 4:58 p.m. UTC
Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

Temasek, one of Singapore's major sovereign wealth funds, led a $200 million investing round in Amber Group, a firm that provides liquidity and market-making services to clients throughout Asia. The funding valued Amber Group at $3 billion.

  • Amber Group said that it will use the proceeds to hire staff in Europe and the Americas, citing institutional demand in those markets.
  • In June, Amber Group closed a $100 million Series B round that valued the firm at $1 billion, meaning that its valuation has tripled in less than a year, even though the crypto market is shifting toward bear territory.
  • Amber Group said it has more than 1,000 institutional clients and more than $5 billion in assets under management.
  • The firm was initially based in Hong Kong, but its executive team recently moved to Singapore. It still maintains an office in Hong Kong.
  • Although Singapore has become less friendly to crypto firms, discouraging them from targeting retail customers, firms like Amber Group almost exclusively target institutional clients, although it said it will use the funding round to expand its retail offerings.
  • Temasek has been an active investor in the crypto market, and observers see it as having an investment strategy similar to SoftBank. GIC, Singapore’s other major fund, is also present in the crypto market, but is a more conservative investor.
  • Amber Group said it will use some of the fresh capital to expand WhaleFin, a retail-targeted app that allows consumers to earn yield on their crypto holdings.
  • Earlier this month, WhaleFin Holdings Japan acquired licensed exchange DeCurret, which is also based in Japan.


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.

Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.