Amber Group Surpasses $65M in Interest Paid to Retail and Institutional Clients

Amber Group, a leading crypto finance service provider, announced today that it has paid over $65 million in interest to its clients by end of July in 2021.

“The increase in demand for earning interest and passive income through crypto deposits represents how far crypto adoption has come,” said Michael Wu, CEO of Amber Group. It’s important that we offer our clients the most advanced product suite that allows them to invest while optimizing their long-term value.”

Amber’s unique product suite offers sophisticated crypto investors and non-crypto natives a set of highly intuitive crypto finance tools that enables them to participate in the crypto markets for the long term. Clients can earn interest on Bitcoin, Ethereum, USD-backed stablecoins, and several other tokens by depositing their assets in the Amber App wallet.

The Amber App, launched by Amber Group in early Q3 2020, offers individual users an extensive product suite, including a bundle of interest rate products. With Amber App’s Earn offerings, users can earn up to 5% APY on deposits and up to 16% APR on customizable subscriptions between 1 and 360 days. Yields offered on the Amber Earn products are primarily generated from 3 sources: capturing the basis trade by taking advantage of the disparity between the spot and futures markets; the interest income from over-collateralized lending to institutions and corporate clients; margin funding payments from users financing leveraged positions.

Amber App added the Yield Boost feature earlier this year, a yield-enhancement product offering non-professional traders a safe and easy way to enhance their yield by monetizing their market view. Yield Boost allows users to customize their investment by choosing a currency pair, a maturity date, and a strike price. Users can choose from a selection of tenors varying from days to months, catering to each individual’s liquidity and risk appetite.

Amber App currently supports nine different languages and is available in 140 countries/regions. Amber Group has cumulatively traded over $500 billion and has over $1.5 billion in assets under management. In June, Amber Group raised $100 million in Series B funding, bringing its total funding to $128 million making it the latest FinTech unicorn valued at over $1 billion.

About Amber Group

Amber Group is one of the world’s leading crypto finance service providers, operating 24/7 with a presence in Hong Kong, Taipei, Seoul, and Vancouver. To date, Amber Group has raised a total of $128 million in funding from China Renaissance Group, Tiger Global Management, DCM Ventures, Tiger Brokers, Sky9 Capital, Arena Holdings, Tru Arrow Partners, A&T Capital, Gobi Partners, Paradigm, Pantera Capital, Coinbase Ventures, Blockchain.com, Polychain Capital, Dragonfly Capital, and Fenbushi Capital. For more information, please visit www.ambergroup.io.

Image by Paweł Szymczuk from Pixabay

Source: https://bitcoinist.com/amber-group-surpasses-65m-in-interest-paid-to-retail-and-institutional-clients/?utm_source=rss&utm_medium=rss&utm_campaign=amber-group-surpasses-65m-in-interest-paid-to-retail-and-institutional-clients