On November 8, 2021, Mastercard made an important announcement regarding their payment systems in the Asia-Pacific region. Because of the company’s partnerships with Amber Group, Coinjar, and Bitkub, anyone in the region will now be able to apply for a crypto-linked Mastercard. This will allow users to instantly convert their cryptocurrency into fiat dollars which they can spend wherever you can use a normal card. This doesn’t mean that people will be paying for their purchases in Bitcoin (BTC) or other coins, but instead Mastercard does an instant transfer from crypto to fiat. This allows for buyers to use the card at any merchant that accepts normal cards, which gives…
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Amber Group's Michael Wu is chasing retail clients as well as institutional investors (Photo: Amber Group)Crypto finance firm Amber Group crosses $530M in managed assets
The asset manager and liquidity provider saw a 275% increase from $142M in the previous year as both institutional and retail investors come onboard
“This year was revolutionary for the crypto industry with the number of new companies and investors entering the space,” said Amber Group founder Michael Wu. It claims that more than 500 institutions, family offices, and high-net-worth clients use its Amber Pro services. This year, the cumulative value of all trades made on the platform was over $250 billion.
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Amber App offers custom options contracts
Amber Group today launched a product called “Yield Boost” that lets users create options contracts that are bought by the firm
Amber App's new “Yield Boost” product lets users customize options contracts, which will be bought by the company. More precisely, customers can choose a linked price and set a maturity date on their investment contract.
