Amber Group, a leading digital asset company, has been given the green signal from Hong Kong authorities to operate in the nation following the acquisition of Celera Markets Limited, a fully licensed financial group in the nation.
Amber Group acquires Celera Markets Limited
The digital assets firm has confirmed the acquisition of Celera Markets Limited via a press release which added that the acquisition “represents a significant milestone for Amber Group, as it continues to strengthen its product portfolio to bridge the gap between traditional and digital finance globally.”
“As an asset management player with a decade-long track record, Celera Markets offers valuable market expertise and TradFi experience, which is critical to our global mission to facilitate the convergence of TradFi and digital asset finance,” the press release said.
The Securities and Futures Commission (SFC) of Hong Kong has given Amber Group five different types of SFC licenses – Type 1, 2, 4, 5, and 9 through which the firm will be able to carry out a variety of services in Hong Kong including advising on and dealing in securities and futures contracts.
With this move, the firm aims to continue its expansion into more liquid markets and provide its services to legacy financial market participants.
“As we continue to hold ourselves to the highest compliance standards and win the trust of an SFC-approved institution, we look forward to welcoming a new era of finance in Hong Kong, “said Michael Wu, Chief Executive Officer of Amber Group.
Hong Kong: A crypto hot spot?
The Hong Kong Monetary Authority recently released a white paper exploring the possible architectures and design options that the nation could adopt for a CBDC if it were to issue one. Additionally, British multinational investment bank and financial services holding company HSBC announced the launch of a fund to grab investment opportunities in the metaverse for rich clients in Hong Kong and Singapore. It seems that the special administrative region of China aims to become a hot spot for crypto firms.