Amber International Holding Ltd., a subsidiary of Singapore-based Amber Group, has successfully raised $25.5 million in a private placement. The new funds will be allocated toward expanding the company’s $100 million crypto reserve program.
Strategic Use of Funds for Crypto Reserve Growth
The company announced the funding in a statement released on July 4. Several institutional investors supported the funding round, including CMAG Funds, Mile Green, Pantera Capital, Choco Up, and Kingkey Financial International.
As revealed, the private placement involved the sale of American Depository Shares (ADS) priced at $10.45 each, representing a 5% discount on the average stock price over the past three trading days. The funds will be added to the company’s existing reserve, helping it reach its $100 million goal.
Focus on Real-World Asset Tokenization and AgentFi
Amber is focusing part of its reserve on real-world asset tokenization (RWA), which involves converting assets such as real estate or bonds into digital tokens using blockchain technology, making these tokens easier and safer to buy and sell online.
Another key area is AgentFi, which combines finance with smart software agents that can make decisions and interact with other systems independently, without requiring human intervention. Amber believes both of these technologies will shape the future of decentralized finance.
Market Challenges and Share Price Performance
Despite the positive news about new funding, Amber International’s stock has not performed well. The company’s shares, listed on the Nasdaq Global Market under the ticker AMBR, closed down 6.7% on Thursday. Over the past five days, the stock has lost 23.8% of its value and is down nearly 12% over the past month. Even with the recent market dip, Amber remains committed to building value through long-term investments in crypto and blockchain technologies.
Amber International Holding continues to develop its strategies in crypto reserves and asset tokenization, directing the raised funds towards strengthening its market position in blockchain despite ongoing challenges.
