Amber International Secures $25.5 Million Private Placement to Expand Crypto Reserve
Amber International, formerly PhotoVoltaics International, has completed the first closing of a $20 million private placement led by several Northern California venture capital firms. The funding will be used to deepen its crypto reserve and strengthen its Web3 financial infrastructure projects. The transaction is valued at $10.45 per American depositary share (ADS). That represents a 5% discount to the company’s most recent trading price.
The private placement was fully subscribed by investments led by Pantera Capital, CMAG Funds, Mile Green, Choco Up and Kingkey Financial International. These complementary investments are an endorsement of powerful institutional investor confidence in Amber International’s strategy and growth trajectory. The company intends to grow its crypto reserve program. To that end, they’ve allocated $100 million for this work.
This capital infusion further strengthens Amber International’s crypto reserve, moving it closer to the $100 million target reserve it is aiming in reaching. The reserve, which is currently backed by Bitcoin, Ethereum, and Solana, will now be expanded to include BNB, XRP, and SUI. This diversification is intended to make the reserve more stable and useful as an on-chain reserve within the Web3 ecosystem.
Amber International, a subsidiary of Amber Group, is committed to building Web3 financial infrastructure. Their big focus RWAs and AgentFi. Other recent strategic moves have included a collaboration to acquire DeFi Development Corp in order to develop Solana-based structured products and staking services. These efforts are meant to foster deeper and more inclusive financial opportunities in the growing decentralized finance ecosystem.
Amber International has now achieved an important milestone with this private placement. It now represents more than 25% of their $100 million crypto reserve program. It allows the firm to keep building collaborations and creating new financial products that will keep evolving the economy. The company is equally intent on bolstering its position as a key player in the fast-changing Web3 ecosystem. It will do this by making targeted investments and deepening strategic collaborations.
Nguyen Thi Hanh
Cryptocurrency Writer
Nguyen Thi Hanh channels progressive, pragmatic views into high-energy, approachable crypto journalism, delivering confident, animated articles with regional and global relevance. Her optimistic, party-going spirit helps translate complex blockchain ideas into viral, visually engaging stories. Outside of writing, she enjoys urban food adventures and organizing community hackathons.
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