Crypto lending firm Amber Group is considering selling its business in Japan as part of a plan to focus more on institutional investors than individual clients. The company’s managing partner, Annabelle Huang, told Bloomberg Television on April 14.
Japan is a “high-quality market, but the regulations are strict” (Mr. Huang)
In 2022, Amber Group acquired cryptocurrency exchange DeCurret. In recent months, however, major cryptocurrency exchanges Coinbase and Kraken have both suspended operations in Japan, citing “market conditions.”
Related article: DeCurret sells cryptocurrency business to Amber Group
Huang also revealed that Amber Group plans to apply for a Virtual Asset Trading Platform (VATP) license in Hong Kong. Huang said he was “very bullish” on Hong Kong with the introduction of the new licensing system.
Amber Group did not immediately respond to a request for comment.
｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
| Image: Amber Group website
| Original: Crypto Lender Amber Group Weighs Selling Japan Unit: Bloomberg