Amber Group, a Singapore-based Crypto Lending Service, Is Considering Selling Its Japanese Unit This is part of a plan to focus on institutional rather than retail businesses, according to Bloomberg. report
Annabelle Huang, managing partner, said Amber is currently evaluating options for operating in Japan. This includes divestiture. Although no deal has been concluded yet, with Huang noting that Japan is “The market is very high quality. But there are strict rules as well.”
Meanwhile, Amber plans to apply for a virtual asset trading platform license in Hong Kong. Following the SAR’s push to become a digital asset hub, Huang said the regulation in Hong Kong was very friendly for the company.
Hong Kong aims to develop virtual asset regulations that will foster growth and protect investors. This is in contrast to Singapore’s strict rules on cryptocurrencies. especially for retail investors “Hong Kong is leading now. But we think Singapore has not closed its doors either,” added Huang.
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