The Hong Kong-based Crypto Unicorn Amber Group is considering a listing in the United States, according to reports

• Amber Group, a crypto-financial services business, is considering a direct listing, with the United States being the likely destination, according to its CEO
• Coinbase, a publicly-traded cryptocurrency exchange, recently canceled plans to establish a comparable service after the Securities and Exchange Commission threatened to prosecute it for providing an unregistered security product
• Customers may earn up to a 16 percent annual percentage rate (APR) on their crypto assets with Amber Group’s interest rate investment solutions

Amber Group, a crypto-financial services business, is considering a direct listing, with the United States being the likely destination, according to its CEO. In an interview with the South China Morning Post, Michael Wu indicated that a direct listing is on the table for the next two years. The United States is a likely destination, he added, but we’re open-minded. Amber’s intentions may create regulatory concerns in the United States. Consumers may earn money on their crypto assets by lending them to other customers at a greater rate. 

Coinbase, a publicly traded cryptocurrency exchange, recently canceled plans to establish a comparable service after the Securities and Exchange Commission threatened to prosecute it for providing an unregistered security product. Amber Group has offices in Hong Kong, Taiwan, South Korea, and Canada, and provides algorithmic, high-frequency, and over-the-counter trading to institutional clients. In June, the company became a unicorn after a $100 million funding round gave it a $1 billion valuation. Tiger Global Management, Coinbase Ventures, and Blockchain.com are among its backers.

Customers may earn up to a 16 percent annual percentage rate (APR) on their crypto assets with Amber Group’s interest rate investment solutions. Crypto loan products have come under increased regulatory attention in the United States, with crypto businesses like BlockFi, Celsius Network, and Coinbase being warned to stop providing unregistered securities, according to regulators. If Amber Group isn’t permitted to provide crypto loan products, Wu says it won’t. He stated that the firm aims to expand its presence in the United States and would follow American regulations in order to serve the country’s consumers.

Ritika Sharma

With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.