Amber Group to Sell its Japanese Division

Annabelle Huang, the managing partner of cryptocurrency platform Amber Group, has stated in an interview with Bloomberg that the company is looking into selling its Japanese division as part of a strategic plan to reorient the business from retail to institutional.

She has recognized the high quality of the Japanese market and the country’s strict regulations. In February 2022, Amber Group acquired the local crypto exchange DeCurret, which holds a Crypto-Asset Exchange Service Provider license from the Financial Services Agency.

The platform is also planning to apply for a license in Hong Kong, following a similar move by Huobi and OKX. Huang commented that the regulatory situation in Hong Kong is “very optimistic” for the firm.

In October 2022, the Hong Kong Bureau of Financial Services and Treasury issued a statement easing restrictions on cryptocurrencies and expressing willingness to engage with virtual asset service providers.