Crypto financial services firm Amber Group is weighing up a direct listing, with the U.S as the “likely destination,” according to its CEO. – A direct listing is “on the table” in the next two years, Michael Wu said in an interview with South China Morning Post. – “The U.S is a likely destination, but we’re open minded,” he said. – Aspects of Amber’s plans may raise regulatory concern in the U.S. Amber allows customers to earn interest on crypto holdings by lending to other clients at a higher rate. Publicly listed crypto exchange Coinbase recently aborted plans to launch a similar service after the Securities and Exchange Commission threatened to sue it for offering what it considered to be an unregistered security product. – Amber Group also offers algorithmic, high-frequency and over-the-counter trading to institutional clients and has operations in Hong Kong, Taiwan, South Korea and Canada. – The company attained unicorn status in June following a $100 million funding round that gave it a valuation of $1 billion. Its investors include Tiger Global Management, Coinbase Ventures and Blockchain.com. Read more: The SEC to Coinbase: Crypto Banking Is Still Banking Credit: Source link
