Amber Group, a cryptocurrency financial services company, has managed to fundraise $100 million in a second funding round spearheaded by China Renaissance. This valued the company at $1 billion.
Amber Group has offices in Vancouver, Hong Kong, Seoul, and other locations, and says it is going to use the funds to increase its worldwide operations. The company offers high-frequency trading, as well as algorithmic trading.
CEO Michael Wu said, “We’ve had record months over the past quarter across both client flow and on-exchange market-making volumes. Our cumulative trading volumes have doubled from $250 billion since the beginning of the year to over $500 billion.”
Companies involved in the fundraising round include Arena Holdings and Tiger Global Management.