Category: Amber Group

Categories
Amber Group Business

Amber Group executes world’s first crypto borrow transaction on CLST Markets in the form of an eNote by FQX AG

CLST Markets, an institutional-only lending and borrowing venue for stablecoins and crypto assets, has successfully facilitated an uncollateralized multi-million USDC stablecoin loan executed by Amber Group for the first time today. The fixed-term transaction was executed in the form of the first electronic promissory note for a stablecoin issued on the Algorand Blockchain.

Swiss-based FinTech company CLST led the successful transaction between Amber Group and an undisclosed counterparty. The underlying asset, a USDC stablecoin issued on the Algorand Blockchain (commonly referred to USDCa), was settled Peer-to-Peer and is based on an electronic promissory note (eNote), a technology provided by FQX which is seamlessly integrated into CLST. The multi-million USDC stablecoin loan was borrowed by Amber Group at a Fixed Term and with a contract duration of less than a year.

An eNote™ is an unconditional promise to pay a specific sum to another party at a specific future date and can be modularly structured to fit any financing purpose. The eNote™ is based on blockchain technology and can be easily transferred to any third party (i.e. an investor). When compared to other financing tools, eNotes™ excel through their modularity and global transferability, based on a standardized legal framework. Single eNotesTM are stored as NFTs on a blockchain. By issuing multiple eNotesTM, an issuer can obtain financing in a way comparable to commercial papers.     

The uncollateralized transaction marks a significant milestone in institutional crypto asset lending by solving the problem of over-collateralization. Borrowers are routinely forced to pledge an amount of collateral that exceeds the value of the loan to mitigate the risk of cryptocurrency price fluctuations. This impediment is holding back the development of borrowing and lending in the crypto asset industry. 

Overcoming this obstacle, whilst keeping risk at manageable levels, will finally allow institutions to unlock the full potential of a maturing short-term debt market as TradFi and DeFi converge.

Counterparty risk is mitigated by the innovative use of electronic promissory notes, a tried and tested method of providing lenders with a globally enforceable legal provision in the event of loan defaults.

Lack of institutional-grade infrastructure in lending and borrowing

“Currently, the institutional short-term debt market for stablecoins and crypto assets is heavily underserved due to a lack of large-scale lending and borrowing infrastructure that reduces counterparty and DeFi protocol risks. We are doubling down on the vision to connect every institution, from market makers, to treasuries, foundations, family offices or hedge funds, through a single communications venue,” says Michael Guzik, Founder and CEO of CLST.

“As a leading digital asset platform, Amber Group helps its clients to access liquidity, earn yield, and manage risk across crypto assets. As an institution with a global footprint, access to broad networks of lenders and borrowers, are therefore essential to Amber’s trading activities and liquidity management. Michael and the team behind CLST will make uncollateralized lending and borrowing more efficient through the aggregation of deal flow and we are excited to be part of this global network at the very beginning of a new future for crypto assets in the market,” says Francesco Adiliberti, Managing Director for Europe at Amber Group.

About CLST

CLST is the institutional communications venue to lend or borrow stablecoins and crypto assets, automating multi-dealer price negotiation and price matching for institutional traders. CLST Markets integrates next generation products such as “Request-for Quote” (RFQ), “Fixed Term”, “Call Money”, institutional DeFi protocols, blockchain-based electronic promissory notes and wallet connectivity for automated settlements. CLST aims to resolve market uncertainties and scaling issues in uncollateralized and collateralized lending and borrowing of stablecoins and crypto assets. For more information, please visit www.clst.com                  

 *Disclaimer: CLST borrowing and lending capabilities and products of stablecoins and crypto assets are not yet available in the United States.

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 is backed by prominent investors including Sequoia Capital, Tiger Global Management, Paradigm, and Coinbase Ventures. For more information, please visit www.ambergroup.io

About FQX

FQX is a born-global start-up headquartered in Zurich, Switzerland. FQX is building the global debt infrastructure for the future of finance using blockchain technology. FQX employs more than 20 people in Europe & Asia. FQX has garnered attention in 2021 by winning the Swiss Fintech and the Fintech Germany Awards in its respective categories. FQX is backed by notable Fintech investors, among them SIX Fintech Ventures & Earlybird VC.

For more information, please visit enotes.tech

Media Contact

Stella Wang

pr@ambergroup.io

Alex von Mühlenen
alex.vm@clst.com

Jörg Röthlisberger
info@glt-communications.ch

Categories
Amber Group Social Good

WhaleFin Partners with Non-Profit Organization Whale and Dolphin Conservation

Singapore, Jan. 14, 2022 – WhaleFin, the flagship digital asset platform of Amber Group, today announced a partnership with a leading non-profit organization, Whale and Dolphin Conservation (“WDC”), to help raise awareness in protecting whales and dolphins across the globe. As part of the partnership, WhaleFin officially adopted a 46-year-old female humpback whale named Salt, widely known as the most famous whale in the world. 

This collaboration comes on the heels of Amber Group’s recent launch of WhaleFin, an “all in one” digital asset platform positioned to empower diverse market participants of all backgrounds to build and manage wealth in a continuously transforming digital era. 

As an integral part of Amber Group’s larger sustainability initiative, WhaleFin is committed to marine wildlife and habitat protection, supporting the many creatures of our oceans and the ecosystems that ensure their survival. The WhaleFin community also contributes to the protection of Salt and her family with every login. In addition, Amber Group is committed to leveraging the power of the crypto industry and collaborating with organizations and institutions worldwide to promote industry-wide environmental change and increase awareness for whales and dolphins’ protection globally. 

Partnering up with WDC was an easy decision after learning about their mission and all the great things they do. At Amber Group, we strive to maintain supportive and impactable environmental governance standards while concurrently continuing to expand upon our digital asset services products with longevity and sustainability in mind.

said Michael Wu, CEO of Amber Group and WhaleFin Product Lead.

Our company’s success is inextricably linked to the sustainability of the world around us, and we want to utilize our WhaleFin platform to help truly make a difference for whales and dolphins that play a vital role in the marine ecosystem that keep our oceans safe.

WhaleFin’s recent collaboration with WDC is one of Amber Group’s key milestones in helping create a more sustainable planet. 

In October 2021, Amber Group solidified a strategic partnership with climate tech company Moss Earth to help combat climate change. To help reduce the environmental impact of crypto transactions, Amber Group purchased $2 million worth of Moss Carbon Credit Price (MCO2) tokens, approximately enough to offset the cost of over 280,000 bitcoin transactions.   

While the partnership between WhaleFin and WDC makes overcoming the world’s overarching and ongoing battle to ensure optimal funding for research, maintenance of effective habitat protection, and marine wildlife conservation programs dedicated to the cause one step closer, there is still much work to be done.

“We need to protect and restore the ocean as if our lives depend on it, because they do,” said Chris Butler-Stroud, Chief Executive at Whale and Dolphin Conservation. “With the support from companies like Amber Group joining our Climate Giant Project, we can scale up our conservation work to support ocean-based solutions to the climate crisis and in doing so, protect every whale for their sake and ours.”

Initiated by WDC, the Climate Giant Project aims to support whale populations globally, restore the health of marine ecosystems, and make a positive impact on our oceans’ carbon capture. The project consists of a series of activities, key among them being adopting whales and helping to protect their habitats. In addition, WhaleFin and WDC are working together to use blockchain technology as a force for good. To learn more about how WDC is helping protect whales and dolphins and how you can get involved, please visit https://uk.whales.org.   

Media Contact

Stella Wang

pr@ambergroup.io

About WhaleFin

WhaleFin is the flagship digital asset platform powered by the fintech unicorn Amber Group. Founded in 2017, Amber Group now operates 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 Paradigm, Dragonfly, Pantera, Polychain, Sequoia, and Tiger Global. For more information, please visit www.whalefin.com.

About Whale and Dolphin Conservation

Whale and Dolphin Conservation (WDC) is the leading charity dedicated to the protection of whales and dolphins. WDC has thirty years’ experience funding vital conservation, education, and research projects around the globe. WDC has around 80 staff worldwide working in 6 locations. Whale and Dolphin Conservation is a Registered Charity in England and Wales with the number 1014705 and Scotland with the number SC040231. For more information, please visit https://uk.whales.org.   

Categories
Amber Group Business

Amber Group – December 2021 Recap

Corporate News

Named a winner of Deloitte’s 2021 Hong Kong Technology Fast Leader award.

Announced the appointment of Cactus Raazi as the CEO of Amber Group’s US subsidiary.

WhaleFin UK received approval as Appointed Representative for UK FCA-authorised firm Strata Global Limited.

Blockchain security research team provided an in-depth breakdown of the loophole on Dexfolio’s LP farming contract which the team identified and reported through the bug bounty platform, ImmuneFi, on August 15, 2021.

Product Development and Partnerships

Launched WhaleFin, an integrated digital asset platform that has combined Amber App and Amber Pro.

Led the $175 million Series B funding round for 1inch.

Led the $6 million token sale for algorithmic stablecoin Sperax.

In the News

Cointelegraph:  1inch Network concludes $175M Series B led by Amber Group.

Disruption Banking: Amber Group’s UK Subsidiary, WhaleFin Technologies, receives approval as Appointed Representative for UK FCA-authorised firm Strata Global Limited.

BeInCrypto: Amber Group appoints global markets veteran Cactus Raazi as US CEO.

The Block: 1inch Network closes $175 million Series B, aims to serve institutional customers.

Yahoo Finance: Amber Group reimagines digital wealth management In the metaverse with launch of WhaleFin.

Crowdfund Insider: Amber Group’s WhaleFin seeks to simplify crypto investments.

U.Today: WhaleFin presents modern digital wealth management platform.

Benzinga:  Amber Group named a winner of Deloitte’s 2021 Hong Kong Technology Fast Leader Award.

Blockworks: Funding News: Steve Aoki, Alameda, Amber Group invest $6M in private token sale, humanDAO raises $3.7M.

Events and Media Appearances

CEO Michael Wu invited on The Daily Forkast to share his views on the topical stories of the week in December, such as India’s crypto bill, web 3.0 development, and Omicron token.

Managing Partner Annabelle Huang  invited to DCenetral Miami Conference to share her perspectives on DeFi outlook and trends.

Managing Partner Annabelle Huang and North American Head of Business Development Angie Beehler attended Miami Art Basel 2021 opening reception.

CSO Dimitrios Kavvathas invited to the OP Investment Management panel discussion titled “Asia Alpha: Undiscovered Talent”. 

CSO Dimitrios Kavvathas invited to Bank of America’s private conference to share his views on the potential of crypto innovation and uptake in India.

Regional Director for Europe Sophia Shluger invited to the Blockchain Finance Forum: Europe 2021 to share her perspectives on the impact of blockchain technology on European finance.

Categories
Amber Group Business

Amber Group’s UK Subsidiary, WhaleFin Technologies, Receives Approval as Appointed Representative for UK FCA-Authorised Firm Strata Global Limited

SINGAPORE, 23 December 2021 — Amber Group, a leading global digital asset platform, has announced that its UK subsidiary, WhaleFin Technologies (UK) Limited, has secured the Financial Conduct Authority (FCA) approval to become the Appointed Representative (AR) of FCA-authorised Strata Global Limited. The FCA approval marks the beginning of a partnership between WhaleFin Technologies and Strata Global which will facilitate Amber Group’s market entry into the UK.

“Securing the FCA’s approval as an AR is a significant milestone for Amber Group in the UK – a market that is synonymous with a sophisticated financial and regulatory ecosystem, global connectedness, and an intuitive base for crypto demand and innovation in the region,” said Amber Group’s Global Chief Executive Officer, Michael Wu. “As Amber Group expands our global footprint, we are committed to upholding the highest regulatory compliance standards as we continue to innovate and bring our regulated products and services to market.”

Amber Group first put down its roots in the UK in September 2021, having observed the digital assets market potential in the UK. An FCA study on crypto assets ownership estimated that there are currently up to 2.3 million crypto users in the UK in 2021, an increase from 1.9 million in 2020[1]. The study also found that there has been a fundamental attitudinal shift towards crypto asset adoption, with more than half of UK users expressing their intention to invest more in crypto assets as an alternative or in tandem with mainstream investments[2].

“We are thrilled to be making inroads into the UK alongside our well-established partner, Strata Global Limited. Together, we look forward to strengthening Amber Group’s foothold in one of the world’s leading financial markets while upholding the standards and trust expected of an FCA-approved institution,” added Wu.

“It is an incredibly exciting time for us as we support Amber Group in building a business in one of their key markets from the ground up. We are looking forward to a long and successful partnership,” said Strata Global’s co-founder Nick Andrews. 

As an AR for an FCA-authorised firm, WhaleFin Technologies will be able to introduce regulated products and services in compliance with the UK financial market regulations. Besides this, WhaleFin Technologies is in the midst of applying to the FCA for an e-money licence as well as registering with the FCA’s Cryptoasset AML/CFT regime. Once granted, WhaleFin Technologies will be able to offer an even wider range of services such as debit cards, cryptocurrency trading and digital asset trading to both institutional and retail clients.

Olaf Ammermann, Managing Director of WhaleFin Technologies UK, concluded: “We are taking a firm step towards becoming a fully regulated and authorised financial services firm in the UK, and to that end, we are committed to building an integrated digital finance company that meets the needs of the UK market for the long term.” 

Media Contact

Stella Wang

pr@ambergroup.io

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 is backed by prominent investors including Paradigm, Dragonfly, Pantera, Polychain, Sequoia and Tiger Global. 

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

Categories
Amber Group Technology

Amber Group Reimagines Digital Wealth Management In The Metaverse With Launch Of WhaleFin

Singapore, 14 December, 2021 — Amber Group, a global leader in digital assets, today announced the launch of WhaleFin, its flagship digital asset platform that is uniquely positioned to empower mainstream investors to build wealth in the digital era and further democratize access to the world of crypto finance. Built with the deep expertise that Amber Group has developed serving both institutional and retail markets, WhaleFin is an all-in-one platform that bridges the demands from both markets, serving as the preferred gateway to crypto for users, regardless of their experience. 

The launch of WhaleFin marks an important milestone for Amber Group, delivering on its mission to unlock the value of crypto finance for individuals and organizations, at a time when digital assets are gaining mainstream acceptance and adoption across global financial ecosystems. Designed with universality in mind, the WhaleFin combines institutional-grade features of the Amber Pro, launched in 2019, with the intuitive user interface and features of the Amber App, launched in 2020. 

“The concept of wealth has changed radically over the last few years and there is an urgent need for investors to rethink the way they build wealth in a future that is increasingly digital and decentralized”, said Michael Wu, CEO and Co-founder of Amber Group. “WhaleFin represents the gateway into the new world of finance, one that will be underpinned by the growth of the metaverse and the rising prominence of digital assets.  At Amber Group, we are incredibly excited to help shape this decentralized future, as we onboard investors at all levels into the world of crypto finance.”

With WhaleFin, all users can now access institutional-grade digital asset trading tools through a seamless interface on both web browser and mobile app. The platform comes in two versions to cover the full spectrum of investing needs – the ‘pro’ version lends comprehensive trading features for diversified investing activities, while the ‘lite’ version enables crypto beginners to buy, earn and swap digital assets simply and securely. 

Long-term value generation, next generation algorithmic trading, investment flexibility and state-of-the-art security are at the core of WhaleFin’s product offering. Key features of WhaleFin include:

  • Long term value generation – WhaleFin users can maximize their yields to build their digital wealth with WhaleFin’s structured products that are designed to monetize their market views. Users are also afforded a high degree of customization that includes investment currency, linked price and maturity dates, offering them innovative ways to grow their portfolio of digital assets.
  • Cutting edge algorithmic trading – WhaleFin supports customized algorithmic executions with automated ICEBERG, TWAP and VWAP orders with minimal price impact. Automated transaction cost analysis reports are also generated for users, providing them with a smarter and more transparent way to trade. 
  • Investment flexibility – Built with cutting-edge earn features that include a daily interest payout and early funds redemption, users can easily trade over 100+ digital assets at competitive prices on WhaleFin. Users will also enjoy the flexibility of using digital assets as collateral, allowing them to manage their portfolio risk as they implement margin trading strategies with highly customizable loan tenures. 
  • State-of-the-art-security – WhaleFin leverages multi-party computation technology, in partnership with leading security infrastructure providers in the industry to ensure users are able to invest and grow their digital assets with total peace of mind. 

Beyond empowering users with the best tools to make sound investment decisions, WhaleFin also empowers users with the opportunity to invest in a sustainable future. WhaleFin plans to harness resources from across the industry to support public education campaigns on the climate crisis as well as to mobilise communities to take action for our planet.

“The launch of WhaleFin is a landmark moment for us. At Amber Group, we want to continue developing the digital assets ecosystem by empowering everyone with institutional-grade tools and new touchpoints for people to easily access their digital assets. As the ecosystem matures and becomes increasingly sophisticated, it is important that we help facilitate a connected and inclusive global market and uphold the democratic spirit of DeFi. Not only does this critically drive innovation for the advancement of our global economy, it is also the spirit of opportunity and the seed to create a better world for everyone,” Wu added.

For more information about WhaleFin, please visit https://www.whalefin.com. Due to regulatory reasons, WhaleFin does not currently support or provide services to customers from some jurisdictions. 

***

Media Contact

Stella Wang

pr@ambergroup.io

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 is backed by prominent investors including Paradigm, Dragonfly, Pantera, Polychain, Sequoia, and Tiger Global.

For more information, please visit www.ambergroup.io, or contact them at pr@ambergroup.io.

Categories
Amber Group Technology

Amber Group Named a Winner of Deloitte’s 2021 Hong Kong Technology Fast Leader Award

Hong Kong, 16 December, 2021 — Amber Group is pleased to announce that it has been awarded the “Technology Fast Leader” in the 2021 Deloitte Hong Kong Technology Fast Program. The award ceremony took place in Hong Kong on December 15, 2021. Amber Group is one of the three winners that received the technology leadership awards for its rapid growth, entrepreneurial spirit, and bold innovation.

Deloitte established this award as a subproject of Deloitte’s Technology Fast 50/500 Program in Silicon Valley, initially introduced in 1995, which takes place simultaneously every year in more than 30 countries including the US, UK, Germany, Japan, and China. With its extensive coverage in tech companies and Deloitte’s stringent evaluation system, the program is seen as a benchmark for fast-growing global companies. Contenders for this annual award encompass some of the fastest growing and most innovative companies worldwide, including Tencent, Alibaba, Jingdong, Baidu, Bytedance, Mare Medical, SMIC, WuXi AppTec, and Apple, Microsoft, Amazon, and Tesla.

Amber Group has displayed a torrid growth trajectory over the last four years since its inception and is now widely considered a global market leader in all things crypto with a specialty focus in pricing, trading, and distribution of cryptocurrency products. The company currently has over $4 billion in assets on its platform and to date has cumulatively traded over $1 trillion across all products and categories.

Tiantian Kullander, Co-Founder of Amber Group, credits the company’s achievements over the last three years to its continued investment in next-generation technology coupled with world-class talent. Kullander said: “We are honored to be selected by Deloitte as the 2021 Hong Kong Technology Fast Leader. Awards like this encourage and foster innovation, and as an innovative digital assets provider, we aim to serve our clients with institutional-grade tools and provide a streamlined crypto finance experience. There are a lot of exciting things happening right now, we recently announced our partnership with Mastercard, and just this week unveiled WhaleFin, our latest digital asset platform. We are proud of what we have achieved in such a short time and will continue to create more impact in the local economy, bridging Hong Kong with the rest of the world.”

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 is backed by prominent investors including Paradigm, Dragonfly, Pantera, Polychain, Sequoia, and Tiger Global.

For more information, please visit www.ambergroup.io, or contact them at pr@ambergroup.io.