Singapore-based Amber Group may ditch Japan in favor of Hong Kong. The crypto lender is reportedly considering selling its Japanese unit and moving to Hong Kong due to its favorable regulatory regime.
– Crypto lender Amber Group is reportedly considering selling its Japanese unit and shifting to Hong Kong.
– The firm’s Managing Partner revealed that Hong Kong’s friendly crypto policies were better suited for its business. Singapore-based digital asset firm Amber Group is reportedly considering a plan to ditch its Japanese business in favor of a shift to Hong Kong. The crypto lender is mulling a potential sale of its unit in Japan and applying for a license inAmber Group to ditch Japan in favor of Hong Kong?said that Amber Group’s reassessment of its Japanese operations is part of a strategic decision to shift its focus from retail facing business to institutional operations.
Japanese crypto exchange DeCurrent, which was acquired by Amber in 2022, is at the center of the firm’s divestment. While the firm is considering several options, the sale of the exchange is on the table. In an interview with Blomberg, Amber Group’s Managing Partner Annabelle Huang clarified that Japan was a high-quality market. However, the nation’s current stance on crypto made it suboptimal for the crypto lender to continue operating in the country. The strict regulations in Japan following a year of bankruptcies and scandal, has made the firm reconsider its business there.“The regulatory scene in Hong Kong has been very bullish for us.
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