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Amber Group Continues to Strengthen Resilience with Enhanced Compliance, Security, and Industry Collaborations
News provided byAmber Group
Sep 19, 2023, 2:00 PM ET
SINGAPORE, Sept. 19, 2023 /PRNewswire/ -- Amber Group, a leading global digital asset company, today announced its exceptional revenue growth in the second quarter of the year, doubling its figures from the first quarter. This remarkable achievement reflects the company's unwavering commitment to excellence and innovation across its core business areas, with notable contributions from its market making business and digital wealth management services.
"Amber Group's resilience and growth can be attributed to its state-of-the-art technology infrastructure, deep expertise in the crypto market, broad client base, and effective risk management practices," says Annabelle Huang, Managing Partner of Amber Group. "These factors collectively empower us to navigate market volatilities and consistently deliver exceptional outcomes."
Recognized with Prestigious Awards and Certifications
Amber Group's outstanding performance in H1 2023 has garnered significant recognition, with various prestigious awards and certifications. Amber Group was honored with the titles of 'Best Technology - Infrastructure' at the Hedgeweek European Digital Assets Awards and 'Best Digital Wealth Management Company Global 2023' by World Business Outlook. Furthermore, the company achieved notable security wins, ranking 1st at War Room Games Taipei 2023 and 3rd at NumenCTF competition. In addition to these accolades, Amber Group has obtained triple ISO certifications for security and privacy protections, further reinforcing its commitment to safeguarding client assets.
Top 5 Ranking in Regulatory Compliance Review
Amber Group has once again ranked among the top five virtual asset service providers (VASPs) in Hoptrail's quarterly review of Crypto AML Leaderboards, achieving a score of over 91 out of 100. Notably, Amber Group stands out as the only pureplay crypto financial services firm within the top 5 rankings, surpassing its industry peers and setting a remarkable benchmark for anti-money laundering compliance and risk management. The review comprises 23 AML variables that showcase how well financial services providers respond to financial crime risks in the cryptocurrency sector. Amber Group's impressive results reflect the company's dedication to rigorous compliance measures and safeguarding client assets. In November 2022, Amber Group was awarded the 'Virtual Asset Service Provider of the Year' title in the category of 'Best Solution - Virtual Assets' at the fifth Regulation Asia Awards for Excellence 2022.
Strategic Acquisition of Sparrow Tech Private Limited in Singapore
Amber Group acquired Sparrow Tech Private Limited, a fully licensed Digital Payment Tokens (DPT) service provider under the Payment Services (PS) Act in Singapore. The acquisition represents a significant milestone for Amber Group amid an evolving crypto asset regulatory landscape in Asia Pacific and a renewed industry-wide focus on regulation globally. This is also in line with Amber Group's strategic business recalibration to prioritize the delivery of best-in-class services for core institutional and high-net-worth clients in Singapore and Asia.
Investing in Collaborative Partnerships for Industry Growth
Amber Group remains committed to industry collaboration and strategic investments to adapt to the evolving market. The company has engaged with a range of industry players in H1 2023, working on new staking solutions with RockX and partnering with BitMart to unlock digital liquidity. Amber Group also collaborated with Thoughtworks to enhance transparency and security in Web3 and participated in the strategic fundraising of Layer N, Credora, 0xscope, and PADO Labs. These efforts reflect Amber Group's commitment to promoting Web3 ecosystem development and catalyzing crypto innovation.
Uninterrupted Fiat On/Off Ramp Services for Seamless Access to Digital Assets
Amber Group is proud to provide uninterrupted fiat on/off ramp services, ensuring seamless access to digital assets for its users. Through its secure and reliable platform, investors can convert between USD fiat and digital assets at competitive exchange rates. Additionally, Amber Group offers quick access to funds, settling transactions instantly or within 24 hours, eliminating lengthy processing times and providing users with enhanced convenience.
About Amber Group
Amber Group is a leading crypto finance services provider, specializing in digital wealth management and crypto-native liquidity solutions. The firm offers a comprehensive range of digital asset services, spanning liquidity provisioning, trading, financing, and investing. It is backed by prominent investors, including Fenbushi Capital US, Sequoia, Paradigm, Tiger Global, Dragonfly, Pantera, Coinbase Ventures, and Blockchain.com.
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