Saturday, April 13, 2024

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

Amber Group, a firm offering financial services, is thinking about going ahead with a direct listing within the United States. The CEO of the crypto unicorn has referred to the US as a probable destination for a listing.

The CEO of Amber Group, Michael Wu, said that a direct listing in the US might become a reality within the next two years. He also added that while the US is their probable destination, the company was still open-minded about where to ultimately go.

Amber Group and US Regulatory Concerns

The Amber Group coming to the US can raise concerns regarding regulation within the country. This is as the Amber Group allows its clients to earn interest on their crypto assets. It does this by allowing clients to lend to other clients at interest rates that are higher.

The SEC recently threatened to sue Coinbase, which is a crypto exchange that is publicly listed. It did so as it believed Coinbase was providing services that the SEC deemed to be an unregistered security product.

Amber Group and OTC Trading

Similar to what Coinbase was trying to initiate before it was put to a halt, the Amber Group offers similar algorithmic trading. The company, which became a unicorn just this soon, after a $100 million funding round, will need to contend with US regulation to have a successful direct listing in the country.

Amber Group currently has a valuation of nearly $1 billion.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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