Bloomberg reports Amber Group plans to raise funding at a $10 billion valuation

The cryptocurrency platform Amber Group is in talks with investors for new funding. Depending on the outcome, the company could be valued at as much as $10 billion, Bloomberg reports, citing people familiar with the matter.

In February 2022 the Singapore company raised $200 million in a Series B+ round at a $3 billion valuation.

Announcing the deal, Amber Group’s chief executive Michael Wu said that in 2023 the organization plans to pursue an initial public offering, most likely on one of the US stock exchanges. He added that before that the company could undertake another funding round.

Founded in 2017, Amber Group offers a broad range of products for institutional and retail investors: market-making services, trading services, investment instruments, and DeFi infrastructure.

Earlier, in 2022, Amber Group announced the acquisition of a Japan-regulated Bitcoin exchange DeCurret.

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