Amber is a prominent cryptocurrency platform founded in 2018 by five former Morgan Stanley traders in Singapore. Since its inception, the company has rapidly evolved into a key player in the global digital asset ecosystem, offering institutional-grade trading services and retail-focused digital wealth management solutions. With a strong foundation in financial markets and risk management, Amber has positioned itself at the intersection of traditional finance and blockchain innovation.
The platform achieved a significant milestone in February 2022 when it secured a $200 million Series B+ funding round led by Temasek, with participation from Sequoia China, pushing its valuation to $3 billion. This made Amber one of the most valuable crypto-native firms in Asia at the time. In March 2025, Amber made history by becoming the first Singapore-based cryptocurrency company to list on the Nasdaq through a SPAC merger—an achievement that underscored its growing influence and credibility in the regulated financial world.
As of mid-2022, Amber managed over $530 million in assets and held 12 regulatory licenses across major jurisdictions including the United States, the United Kingdom, Japan, and Hong Kong. Notably, it holds Type 1, 2, 4, 5, and 9 licenses from the Hong Kong Securities and Futures Commission (SFC), reflecting its compliance-first approach to digital asset operations.
Evolution and Key Milestones
Amber’s journey from a boutique trading desk to a globally recognized fintech firm reflects the broader maturation of the crypto industry. The company began as a proprietary trading group leveraging quantitative strategies and deep market insights drawn from its founders’ Wall Street experience. By 2020, Amber had already achieved $5.3 billion in asset management volume and facilitated more than $250 billion in annual trading volume—demonstrating early scalability and market demand for its services.
Its rapid growth attracted top-tier investors. The 2022 B+ round brought total fundraising to $328 million, cementing investor confidence despite a cooling crypto market. Later that year, Amber raised an additional $50 million from a sovereign wealth fund (though below its original $100 million target), signaling continued institutional interest even during turbulent market conditions.
The landmark event came in March 2025 with its Nasdaq debut via a SPAC merger. This move not only provided liquidity for early stakeholders but also enhanced transparency and governance standards, aligning Amber more closely with traditional financial institutions.
Business Ecosystem: Bridging Institutions and Retail Investors
Amber operates a dual-track business model designed to serve both institutional clients and retail users with tailored financial products.
Institutional Services
Amber offers customized trading solutions, algorithmic execution, liquidity provisioning, and advanced risk management tools for hedge funds, family offices, and fintech firms. These services are built on a robust infrastructure that integrates AI-driven analytics with multi-chain connectivity.
By Q1 2025, Amber reported $1.28 billion in assets under management (AUM) from institutional clients—a clear sign of growing trust among professional investors navigating complex crypto markets.
Retail Wealth Management
On the consumer side, Amber launched its flagship mobile app, which gained traction quickly—amassing 25,000 users within three months of release in 2021. The app facilitated over $680 million in financial product transactions during its initial phase.
The WhaleFin Club initiative further boosted private wealth engagement in early 2022, enabling high-net-worth individuals to access curated investment opportunities and personalized portfolio strategies. This segment played a crucial role in diversifying revenue streams beyond pure trading activities.
Technology and Security Infrastructure
At the core of Amber’s operations lies a sophisticated technical architecture combining artificial intelligence, machine learning, and blockchain protocols. The platform supports cross-border settlements, real-time risk assessment, and automated market-making across multiple exchanges and blockchains.
In terms of security, Amber has obtained SOC 2 Type II certification—an internationally recognized standard for data protection and operational resilience. Additionally, its digital asset wallets are backed by insurance coverage exceeding $100 million, providing an extra layer of safeguard against cyber threats or custodial failures.
To strengthen compliance capabilities, Amber acquired a licensed financial entity in Singapore in 2022—a strategic move that enhanced its ability to operate within regulated frameworks across Asia-Pacific markets.
Funding Strategy and Capital Allocation
Amber’s capital-raising efforts reflect a disciplined approach to scaling amid market volatility. While the $200 million B+ round marked a peak in private valuation, the firm adapted quickly to changing macroeconomic conditions.
In late 2022, as crypto markets entered a prolonged downturn, Amber scaled back fundraising ambitions and focused on cost optimization. It successfully raised $50 million from select institutional partners instead of pursuing the full $100 million goal.
Following its 2025 Nasdaq listing, Amber announced the creation of a $100 million crypto ecosystem reserve fund. This capital will be strategically deployed into emerging sectors such as RWA (Real World Assets) and AgentFi—two areas expected to drive next-generation financial innovation by linking physical assets like real estate or commodities with decentralized finance (DeFi) protocols.
Regulatory Compliance and Global Licensing
Regulatory readiness has been central to Amber’s long-term strategy. As of mid-2022, the firm held 12 licenses across key markets:
- Hong Kong: SFC Types 1 (dealing in securities), 2 (futures contracts), 4 (advisory), 5 (research), and 9 (asset management)
- United States: State-level money transmitter licenses
- United Kingdom: FCA registration for crypto activities
- Japan: Virtual currency exchange registration
This multi-jurisdictional licensing framework enables Amber to offer compliant services globally while adapting to evolving regulatory landscapes.
Strategic Restructuring and Market Adaptation
Like many crypto firms, Amber faced challenges during the 2022 market correction. In December of that year, it implemented cost-cutting measures including:
- Pausing expansion plans in Europe and North America
- Scaling down its metaverse-related initiatives
- Reducing headcount and optimizing team structures
These decisions were aimed at preserving capital and refocusing on core revenue-generating segments.
By Q1 2025, following its public listing, Amber completed a structural optimization involving a 10% workforce reduction and realignment of internal roles. Despite these adjustments, the company maintained strong performance—wealth management alone contributed 66% of quarterly revenue ($9.92 million), highlighting the resilience of its diversified business model.
Going forward, Amber plans to deepen its focus on institutional clients and expand its RWA technology stack to bridge traditional assets with on-chain financial systems.
Frequently Asked Questions (FAQ)
Q: When was Amber founded?
A: Amber was founded in 2018 by five former Morgan Stanley traders based in Singapore.
Q: Is Amber publicly traded?
A: Yes, Amber became publicly listed on the Nasdaq in March 2025 through a SPAC merger, making it the first Singapore-based crypto firm to do so.
Q: What services does Amber offer?
A: Amber provides institutional trading solutions, risk management tools, retail wealth products via its mobile app, and private investment programs like WhaleFin Club.
Q: How many regulatory licenses does Amber hold?
A: As of mid-2022, Amber held 12 regulatory licenses across jurisdictions including Hong Kong, the U.S., U.K., and Japan.
Q: What is Amber’s focus after going public?
A: Post-listing, Amber is prioritizing institutional growth, expanding its RWA (Real World Assets) capabilities, and investing in AgentFi technologies.
Q: Did Amber undergo layoffs?
A: Yes, in December 2022 and again in early 2025 after going public, Amber implemented workforce reductions as part of strategic cost optimization and restructuring efforts.
Final Outlook: Building the Future of Digital Finance
Amber stands as a case study in how crypto-native firms can evolve into sustainable, regulated financial institutions. From its elite founding team to its disciplined capital strategy and compliance-first mindset, the company exemplifies professionalism in an often volatile sector.
With its Nasdaq listing and growing emphasis on real-world asset integration, Amber is well-positioned to play a pivotal role in the next era of finance—one where digital tokens represent everything from bonds to buildings.
As investor appetite for transparent, regulated crypto platforms grows, companies like Amber will continue to bridge Wall Street expertise with Web3 innovation—delivering value across institutions and individual investors alike.