Australia-based crypto financial services firm Amber discusses U.S. growth plans

Cryptocurrency financial services firm Amber, which raised $100 million in a funding round in the middle of this year, announced in late September its launch in the United States. After the round, the Australia-based startup was valued at $1 billion.

App live in 44 states after beta version goes public

US customers will have access to Amber Basic and Amber Black, Amber’s premium service, which makes it possible for users to hodl as much Bitcoin as they want without paying any fees. Once the beta version goes public, the app will be live in 44 states.

In a statement to Invezz, Svetski added:

“Amber’s official launch in the US will happen on 01/11/21, and will be closely followed by their premium product Amber Black, which offers advanced automations like “auto-buy-the-dip”, “auto-sell-the-pump” and other yet-to-be-announced meme-like features which will help people across 44 states stack sats in ways they’ve never been able to do before”

Plans to expand in Latin America

After launching in the US, Amber plans to expand in the emerging markets in Latin and South America. Amber wants the app to become the go-to solution for anyone who wants to buy fiat, earn Bitcoin, and shop inside the app without needing to sell Bitcoin.

Amber enjoys the backing of Morgan Creek Digital and a major Australian university. At the end of June, Amber said it planned to generate revenue of $500 million by the end of the year, adding that it had been making a profit ever since it was founded.  

Amber: a mobile first platform

Amber assured Invezz that Amber has and always will be mobile-first, adding:

That not only means the experience is extremely intuitive for the largest growing segment of ’screens’, but that the kind of functionality we have is richer than other products on the market which are not mobile native. For example, Amber has advanced automations like auto-buy, the dip and auto-sell, the pump, which are more advanced incarnations of the standard DCA feature other platforms now have.

The post Australia-based crypto financial services firm Amber discusses U.S. growth plans appeared first on Invezz.

Publication date: 
10/27/2021 - 14:09
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