Amber Group Selects BitGo as Custodian to Bridge Traditional Finance With Crypto Native Apps
BitGo, the leading digital asset financial services firm announced that Amber Group, a global crypto finance service provider, is utilizing BitGo Trust qualified custody for its clientele of institutional investors and traders. Amber Group, known for its outstanding track record innovating in crypto finance and high-frequency trading for institutional investors, is now re-engineering the experience with the new Amber App, which will extend its offerings to high net-worth investors and the next generation of crypto users. Amber Group is working with BitGo Trust as its partner for its secure, battle-tested institutional-grade custody, compliance tools, and user policy controls to secure customers’ assets.
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Insurance was another factor in Amber Group’s decision to choose BitGo. In 2019, BitGo introduced the most comprehensive insurance protection for digital assets which included $100 million USD for assets held in BitGo qualified custody, through a syndicate of insurers in the Lloyd’s of London and European Marketplace. Earlier this year, BitGo became the first digital asset custodian to offer clients the ability to purchase their own excess limits above BitGo’s $100 million policy. BitGo clients who purchase Excess Specie Insurance will be named as Dedicated Customer Loss Payee in the policy, ensuring an additional layer of protection.
“Amber Group’s leading-edge crypto innovations originate from the founders’ background in traditional finance,” said Mike Belshe, CEO, BitGo. “Amber was formed by seasoned finance professionals who cut their teeth trading at firms like Morgan Stanley. Amber is poised for tremendous growth and the team at BitGo is focused on providing the security, liquidity, and custody infrastructure they require to do what they do best — transform the future of finance.”
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“As we scale our operations into more jurisdictions, we prioritize partnering with reliable and well-reputable infrastructure providers like BitGo who are committed to a security-first approach to asset protection,” says Michael Wu, CEO, Amber Group. “Implementing rigorous security measures around client assets is not only critical to our daily operations but also key to building long-term trust with our clients.”
Founded in 2017, Amber is a leading crypto finance service provider trusted by over 200 institutional clients worldwide and backed by Paradigm and Pantera, with additional investments from Polychain Capital, Dragonfly Capital, Blockchain.com, Fenbushi Capital, and Coinbase Ventures. With global coverage for services ranging from liquidity provision to execution services and asset management, Amber is committed to bringing more transparency and professionalism to the crypto markets and its customers.
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