The firm is focusing on institutional business and leveraging regulatory opportunities in Hong Kong.
Amber Group, a crypto lender based in Singapore, is considering options for its Japan unit, including a possible sale, as part of its strategic decision to focus more on institutional rather than retail business.
Related: Talking Heads – Crypto’s “Pure Speed” & TradFi’s Hurdles ft. Amber Group’s Annabelle Huang
Amber Group had acquired Japanese crypto exchange DeCurret in 2022, but is now evaluating its operations in Japan. However, Huang clarified that the firm does not have an announcement regarding a deal at the moment.
"Favorable" market in Hong Kong
Huang noted that the regulatory scene in Hong Kong has been favorable for Amber Group, stating, "The regulatory scene in Hong Kong has been very bullish for us," and that the firm is "preparing for our license application."
Related: More Curbs Coming for Crypto Investors
New Appointments
Amidst these developments, Amber Group underwent changes in its board of directors, including the exit of Dan Morehead, founder of Pantera Capital Management. Huang also revealed that Amber is working on a regulated, open-ended mutual fund that would accept subscriptions in major tokens like Bitcoin, Ether, and some stablecoins.
Related: Amber Group Halves Hong Kong Workforce, Citing “Extremely Conservative Position”
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