Amber Group recently announced its financial performance for the second quarter of 2023. The company reported its revenue doubled during the period compared to the first quarter. Notable contributors to this achievement include its market making business and its digital wealth management services, the company said in a statement.
Annabelle Huang, Managing Partner of Amber Group, attributed the company’s resilience and growth to its cutting-edge technology infrastructure, deep industry expertise, expansive client base, and robust risk management practices.
She commented, “These factors collectively empower us to navigate market volatilities and consistently deliver exceptional outcomes.”
Besides, Amber Group’s acquisition of Sparrow Tech Private Limited, a fully licensed Digital Payment Tokens (DPT) service provider under the Payment Services (PS) Act in Singapore, came across as a significant milestone. This strategic move aligned with Amber Group’s focus on delivering top-tier services to institutional and high-net-worth clients in Singapore and the broader Asia-Pacific region, amidst evolving crypto asset regulations, the statement added.
The company secured a place among the top five virtual asset service providers (VASPs) in Hoptrail’s quarterly review of Crypto AML Leaderboards, achieving a score exceeding 91 out of 100. Amber Group is notably the only pure-play crypto financial services firm within this select group, setting a high standard for anti-money laundering compliance and risk management, the company said.
