Bitcoin pared its rally this week after briefly climbing past $55,000 amid ongoing speculation about whether the largest cryptocurrency can test the record it set last month.

The crypto-finance service provider that its assets under management, or AUM, reached $530 million in 2020, representing a 275% increase from the previous year. Over 500 institutions have contributed to Amber’s suite of investment products, which includes fixed-income, yield enhancement and margin trading.

Amber Group, a crypto finance service provider, announced today it has recently surpassed $530 million in assets under management (AUM), a 275% increase from $142M AUM reported in 2019.

The total cryptocurrency market capitalization exceeded $1 trillion for the first time ever a week ago. However, Michael Wu, CEO of Amber Group, commented at Cointelegraph China’s Jan. 14 Hub interview that the crypto market is still far from reaching its golden age.

When Wayne Huo left his job as an FX option trader at Morgan Stanley he’d only been in the workforce for about 18 months. Huo teamed up with five other professionals from the likes of Goldman Sachs and Bloomberg to found Amber Group, a Hong Kong-based fintech that launched in 2017 and specialises in trading cryptocurrencies, including futures, spots, options, swaps and other derivatives.

Amber Group, a leading crypto finance service provider, announced today that it has appointed partner, Annabelle Huang, to lead GlobalX Center, a strategic global expansion team established to grow the company’s institutional and retail product offerings in regions including South Korea, Japan, Hong Kong, Singapore, Taipei, North America and more.

The crypto market is thriving in Asia—today it’s home to at least 80% of global crypto trading. Now top U.S. crypto investors, including Pantera Capital, Paradigm, Polychain, Coinbase and Dragonfly are lunging at an opportunity for a piece of that market. They’re sinking $28 million into Hong Kong-based crypto trading firm Amber at a $100 million valuation.

AnChain.AI, a blockchain data analytics firm providing AI-powered security, risk, and compliance solutions, today announced a new partnership with crypto finance company Amber Group to bring greater transparency and security to its crypto trading platform ecosystem.

Over the past 12 years, bitcoin has gone from being a fringe asset to one adopted by mainstream investors and traditional financial institutions as they realize its digital gold properties, says Amber Group (www.ambergroup.io) co-founder and CEO, Michael Wu.

Bitcoin surpassed $60K on March 13, 2021 for the first time ever. Even though the price went down to near $54K afterward, the pullback is considered healthy since it may be caused by possible profit taking.