Amber Group, a number one crypto finance service supplier, introduced in the present day that it has paid over $65 million in curiosity to its shoppers by finish of July in 2021.
“The enhance in demand for incomes curiosity and passive earnings by crypto deposits represents how far crypto adoption has come,” stated Michael Wu, CEO of Amber Group. It’s essential that we provide our shoppers essentially the most superior product suite that permits them to make investments whereas optimizing their long-term worth.”
Amber’s distinctive product suite provides refined crypto traders and non-crypto natives a set of extremely intuitive crypto finance instruments that allows them to take part in the crypto markets for the long run. Clients can earn curiosity on Bitcoin, Ethereum, USD-backed stablecoins, and a number of different tokens by depositing their property in the Amber App pockets.
The Amber App, launched by Amber Group in early Q3 2020, provides particular person customers an in depth product suite, together with a bundle of rate of interest merchandise. With Amber App’s Earn choices, customers can earn up to 5% APY on deposits and up to 16% APR on customizable subscriptions between 1 and 360 days. Yields provided on the Amber Earn merchandise are primarily generated from 3 sources: capturing the premise commerce by profiting from the disparity between the spot and futures markets; the curiosity earnings from over-collateralized lending to establishments and company shoppers; margin funding funds from customers financing leveraged positions.
Amber App added the Yield Boost characteristic earlier this 12 months, a yield-enhancement product providing non-professional merchants a secure and simple method to improve their yield by monetizing their market view. Yield Boost permits customers to customise their funding by selecting a foreign money pair, a maturity date, and a strike worth. Users can select from a choice of tenors various from days to months, catering to every particular person’s liquidity and threat urge for food.
Amber App at the moment helps 9 totally different languages and is obtainable in 140 nations/areas. Amber Group has cumulatively traded over $500 billion and has over $1.5 billion in property underneath administration. In June, Amber Group raised $100 million in Series B funding, bringing its complete funding to $128 million making it the most recent FinTech unicorn valued at over $1 billion.
About Amber Group
Amber Group is likely one of the world’s main crypto finance service suppliers, working 24/7 with a presence in Hong Kong, Taipei, Seoul, and Vancouver. To date, Amber Group has raised a complete 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 extra info, please go to www.ambergroup.io.
Image by Paweł Szymczuk from Pixabay
https://bitcoinist.com/amber-group-surpasses-65m-in-interest-paid-to-retail-and-institutional-clients/
