Amber Group Considers Selling Japan's Unit: Report
Main page News, China, business, Japan, Crypto Market, Hong Kong

Asian crypto brokerage firm Amber Group is considering selling its Japan unit, as the firm wants to have enough resources to apply for a Hong Kong license, Bloomberg reports.

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According to Amber Group Managing Partner, Annabelle Huang, the firm is evaluating its presence in Japan as part of a strategic decision to "focus more on institutional rather than retail business." She added that even though Japan is a "very high quality market," the local regulations "are strict."

At the same time, Huang noted the regulatory scene in Hong Kong "has been very bullish" for the firm, which is currently "preparing for license application."

Crypto Exchange OKX Plans to Apply for a License in Hong Kong

Hong Kong is keeping attracting cryptocurrency firms and Chinese banks as the region wants to become a new center for digital innovations. As iHodl earlier reported, the Hong Kong arms of Bank of Communications, Bank of China and Shanghai Pudong Development Bank had "either started offering banking services to local crypto firms or have made inquiries to the field."

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