Amber Group’s Nasdaq Listing: A New Era for Crypto Companies
Amber Group’s recent debut on the Nasdaq has opened new avenues for crypto firms to pursue public listings, according to Paul Veradittakit, a partner at Pantera Capital. As an early investor in the Hong Kong-based provider of crypto financial services, Veradittakit noted that the company’s subsidiary, Amber International, marked its entry into the public market on March 13.
Veradittakit believes that the public listings of crypto-centric companies will significantly attract institutional investors who have previously struggled to find a structured pathway into the cryptocurrency space. This influx of institutional interest is particularly timely, as analysts have indicated that the crypto market is in dire need of fresh capital. In an interview, he stated, “We are going to see a lot of U.S. companies hitting the public markets,” highlighting that ten companies within Pantera’s portfolio are contemplating a similar move.
The interest in going public is not limited to just one segment of the crypto industry; Veradittakit mentioned that various entities, including crypto custody firms, stablecoin issuers, and developer platforms, are exploring the process. In a notable development, Circle, the issuer of the USDC stablecoin, announced on Tuesday that it has filed to go public on the New York Stock Exchange.
Veradittakit emphasized that the evolving regulatory landscape in the U.S. provides crucial “tailwinds” for crypto IPOs. This supportive environment allows international firms like Amber to see viable opportunities for public listings in the country. According to Wayne Huo, CEO of Amber Group, the company’s listing illustrates that the crypto market is not merely a contest between Asia and the U.S., but rather acts as a bridge that connects American liquidity with Asian innovation and expertise. Huo stated, “In the past, we’ve seen technology breakthroughs are the fastest when the East and the West work together.”
Amber Group plans to leverage the capital and heightened visibility gained from its public listing to fuel its international expansion and enhance its offerings in institutional crypto financial services. As of Tuesday, the company’s shares closed at $11.38, giving it a market capitalization of approximately $1 billion. Huo remarked, “Right now, it’s just the beginning of our much, much bigger stage going forward.”
