Amber Group has secured US$200 million in a funding round led by Singapore’s sovereign wealth fund Temasek, raising the cryptocurrency platform’s valuation to US$3 billion.
Existing investors including Sequoia China, Pantera Capital, Tiger Global Management, Tru Arrow Partners, and Coinbase Ventures also participated in the funding.
The fresh funds will be used for business expansion, strategic acquisitions, recruitment and for supporting sustainability initiatives.
Amber Group reached the coveted unicorn status in June last year after closing a US$100 million Series B to up its valuation to US$1 billion.
With over US$1 trillion in traded volume and over US$5 billion assets under management, Singapore-headquartered Amber Group caters to both institutional and consumer markets across more than 150 countries.
Amber Group’s financing comes a month after the Monetary Authority of Singapore, the country’s central bank, clamped down on crypto advertisements and promotions.
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