Amber Group, (the “Company”), a leading global crypto trading and technology firm, today announced that it has joined the Pyth network, a decentralized financial market data distribution platform. Through the partnership, Amber Group will contribute its first-party crypto asset market data to the Pyth network.
Further improvements in DeFi require high-fidelity, time-sensitive data but historically there has been no way to access such data on-chain as it is typically kept behind the “walled gardens’’ of centralized institutions. Pyth solves that problem by bringing real-world data on-chain in a tamper-proof environment.
“Joining the Pyth network was an obvious decision for us as we share a common goal to make markets more accessible and transparent for trading participants through blockchain technology and decentralized finance,” said Michael Wu, Chief Executive Officer of Amber. “The Pyth network is one of the most exciting and promising projects that we’ve seen hit the ecosystem and we look forward to providing our crypto data to help it flourish.”
Amber Group is a leading global crypto finance service provider servicing over 500 institutional clients and has cumulatively traded over $500 billion across 100+ electronic exchanges, with over $1.5 billion in assets under management. The company is actively expanding its operations globally to bring its crypto finance offerings to more regions and ultimately make markets more accessible to investors.
In June 2021, Amber announced the close of a $100 million Series B fundraise that boosted its pre-money valuation to $1 billion, 10x its previous Series A round from 2019, in which the company raised $28 million at a $100 million valuation.
About Amber Group
Amber Group is one of the world's leading crypto finance service providers, operating 24/7 with a presence in Hong Kong, Taipei, Seoul, and Vancouver. To date, the company has raised a total of 128 million in funding from China Renaissance, Tiger Brokers, Tiger Global Management, Area Holdings, Tru Arrow Partners, A&T Capital, Sky9 Capital, DCM Fund, Gobi Partners, Paradigm, Pantera Capital, Coinbase Ventures, Blockchain.com, Polychain Capital, Dragonfly Capital, and Fenbushi Capital. For more information, please visit: www.ambergroup.io
About the Pyth Network
The Pyth network is a specialized oracle solution for latency-sensitive financial data that is typically kept behind the “walled gardens’’ of centralized institutions. The Pyth network is focused on finding a new and inexpensive way to bring this unique data on-chain and aggregating it securely. For more information about the Pyth network, please visit pyth.network.
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