Annabelle Huang News

Crypto lender Amber Group is considering options for its Japan unit, including a potential sale, as part of its plan to focus more on institutional clients, managing partner Annabelle Huang told Bloomberg. 

Japanese tech conglomerate Sony Group has acquired crypto firm Amber Japan, officially debuting into the crypto exchange arena.

Crypto lender Amber Group is weighing options for its Japan unit, including a possible sale, and plans to apply for a Hong Kong license following the city’s pivot toward creating a digital-asset hub. The evaluation of the Japan operation is part of a strategic decision to focus more on institutional rather than retail business, Amber’s Managing Partner Annabelle Huang said in an interview on Bloomberg Television on Friday. Japan is a “very high quality market, but regulations are strict,” Huang said, adding the firm doesn’t have an announcement at the moment about a deal. Singapore-based Amber acquired Japanese crypto exchange DeCurret Inc. in 2022. While Japan has eased some digital-asset rules, other firms like Coinbase Global Inc. and Kraken have already pulled back from the East Asian nation.

Amber Group, a Singapore-based crypto lender, is considering selling its Japanese unit as part of its plan to focus more on institutional business rather than retail business, Bloomberg reported. 

Cryptocurrency trading firm Amber Group, which had roughly 10% of its trading capital stuck on FTX at the time of the exchange’s collapse, has reportedly acquired cryptocurrency platform, Sparrow Holdings according to an announcement on Dec. 14.

Cryptocurrency trading firm Amber Group is putting its expansion plans on hold despite the FTX contagion having “no disruption” to its daily operations, according to a senior executive.