Crypto startup Amber Group raises $530 million AUM as institutions,

The crypto-finance service provider tells Cointelegraph 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.

Although institutions were the main driving force behind Amber’s initial growth, especially among financial managers, family offices and other high net-worth clients, its retail-facing business has also seen significant uptake. The Amber App, which launched in September, has attracted over 35,000 sign-ups at the time of writing.

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