Singapore is one of Asia’s hottest markets for crypto startups, and Temasek and its subsidiaries have made several investments in the sector in the past year. Amber extended its Series B funding round, originally announced in June, specifically to bring Temasek in as an investor, said Chief Executive Officer Michael Wu.
Singaporean state investment firm Temasek Holdings Pte was among investors in a funding round that valued cryptocurrency-trading platform Amber Group at US$3 billion ($4.04 billion), just weeks after the city-state cracked down on marketing by crypto firms.
Existing shareholders including Sequoia China, Pantera Capital and Tiger Global Management also took part in the US$200 million financing, Singapore-based Amber said in a statement Tuesday. The company, founded in 2018 by five former Morgan Stanley traders, has seen its valuation triple since mid-2021.
