The CEO and co-founder of crypto unicorn firm Amber group said that they are planning to show its presence in the United States under full compliance.
Amber Group is a crypto firm of Hong Kong. This crypto financial firm provides crypto related services including crypto lending products with upto 16% return per year.
Amber Group secured $100 million during its B funding round. And currently this firm is managing around $1.5 billion of funds and providing its services to more than 500 Institutional clients.
Michael Wu, CEO and co-founder of Amber Group, in an interview with South China Morning Post talked about his future plans for Amber Group firm.
Wi said that they will not offer any kind of lending products to their users, if not allowed under the regulation framework of the United States. Because they want to show their firm significant presence in the United States, so that they can perfectly give a better level of service for the consumers of the US.
As we know, the regulators of the US are raising their issues on lending platforms like BlockFi & Celsius network, which are giving better returns on the Crypto holding. A recent report we covered where the SEC hammered the upcoming lending product of Coinbase. So such kinds of issues raised by the SEC is a sign of encountering such platforms which are violating rules and regulations of Securities products. Here Amber Group is surely taking a big step towards its products to expand their business in the United States.