Crypto Firm Amber Group Raises $100M At $1bn Valuation

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The Hong Kong company provides crypto trading services to institutional investors and plans to expand into more global markets. Hong Kong crypto services firm Amber Group is now valued at $1bn after raising $100m from several high-profile investors. Founded by a group of former Morgan Stanley traders, Amber Group provides algorithmic trading and high-frequency trading in cryptocurrencies for institutional investors. China Renaissance, an investment bank, led the Series B round with Tiger Global Management, Coinbase Ventures and participating. Last year the company launched a mobile app to broaden its remit and target retail investors as well as institutional investors.

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