The global digital asset company says it posted $250 million in revenue in the first half of 2022, up 25% from the same period last year.

Amber Group claims that a modern business infrastructure, effective risk management and a diverse client base have contributed to its profitability.

Earlier this year, the platform completed a $200 million Series B+ funding round that included Temasek, Sequoia China, Pantera Capital, and Coinbase Ventures. This helped the company reach a $3 billion valuation.

The main driver of growth was securing the licenses required to operate worldwide, and Amber Group has worked closely with regulators in the US, Hong Kong, Canada, Australia, Switzerland, the UK and Japan.

“While the current market conditions remain challenging, we are confident that the company is in a strong position to proficiently weather these conditions and maintain the pace of our growth trajectory,” Michael Wu, CEO of Amber Group, told Cointelegraph.

Wu stressed that sustainability is at the heart of his company’s roadmap, and the team plans to continue making “strategic investments in core business areas to achieve sustainable revenue growth while maintaining profitability.”

Over the next 12 months, Amber Group also wants to “deepen its presence in Asia” and strengthen its core business, including its commercial infrastructure and WhaleFin, the company’s wealth management platform.

Asset protection and customer confidence
The ambitions of the company do not end there. Looking to the future, it continues to develop a $100 million comprehensive insurance plan to protect digital assets held in wallets on behalf of clients.

In June, the platform solidified this policy with Arch Syndicate 2012 of Lloyd’s of London, one of the world’s leading providers.

At the time, Amber Group said that security and privacy were “increasingly prioritized as a cornerstone of user trust in digital assets” – and for organizations wishing to learn about digital assets, such safeguards are essential.

This is complemented by constant monitoring of anomalies in transactions – preventing unauthorized access. At the time, Wu explained, “The global crypto market is expanding exponentially, but the emergence of cybercrime in the crypto space remains a major concern for many investors.

“As we continue to implement digital assets around the world, Amber Group is deeply committed to maintaining the highest security standards for our clients.”

More information from the amber group here
Join forces
No person is an island, and neither are cryptocurrencies. It’s an industry filled with thousands of projects and platforms working on exciting things. For this reason, Amber Group has formed partnerships to help the digital asset sector flourish.

Over the summer, WhaleFin and top-notch soccer team Atlético de Madrid teamed up with STEPN, a Web3 app that rewards users for outdoor sports, to launch a line of digitally hand-painted NFT sneakers. All of them had varying degrees of rarity, and some unlocked special perks such as autographed t-shirts.

At the time, Amber Group managing director Annabelle Huang said the company was looking to “transition from digital wealth to a digital lifestyle by enabling Web2 companies and brands like Atlético de Madrid to migrate to Web3.”

Web2 brands plunging into the new era of the decentralized internet will become a mainstream trend, as will institutional investors incorporating digital assets into their strategies.

During the 2020s, Amber Group says it is determined to capitalize on these two trends and play a major role in bringing them to life.

Source: CoinTelegraph

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