Hong Kong’s Amber Group acquires crypto exchange subsidiary of DeCurret Holdings
Hong Kong-based crypto financial services provider Amber Group has acquired the digital asset exchange subsidiary of Japan’s DeCurret Holdings for an undisclosed sum.
As per the acquisition details, all the company shares have been transferred to WhaleFin Japan, a Japanese subsidiary of Amber Group. On the other hand, DeCurret will continue to provide its crypto-asset trading services to its users.
Amber Group is a Hong Kong-based firm that operates its cryptocurrency business for institutional investors in more than 10 countries around the world. The company became a unicorn after raising $100 million from Tiger Global Management, Coinbase Ventures, Blockchain.com, and others in June last year.
Weike Li, Japan Director of Amber Group, said in the announcement:
“We, Amber Group is also highly valued by prominent shareholders around the world to provide a variety of financial services including asset management of crypto assets. With our entry into the Japanese market, we are very much looking forward to contributing to the further development of the Japanese crypto asset industry and providing excellent services to the Japanese customers in a compliant manner.”
Rumors of Amber Group acquiring DeCurret first emerged in January this year after the Nikkei newspaper reported DeCurret Holdings’ intentions to sell the crypto branch. Not many details were disclosed at the time, but the media outlet reported that the acquisition price would likely reach millions of dollars.
DeCurret was founded mainly by Japan’s first internet service provider Internet Initiative Japan in 2018. DeCurret later shifted its business structure by establishing a holding company, DeCurret Holdings, and splitting its crypto business from other ventures.
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OhNoCryptocurrency via https://www.ohnocrypto.com/ @Paul Carpenter, @Khareem Sudlow
