Amber Group announced that it will include BNB, XRP, and SUI in its crypto reserve.
The institutional Bitcoin and altcoin reserve strategy continues to be adopted by more companies.
At this point, companies prefer cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and XRP for their treasury reserves.
Amber Group, the crypto company that announced its $100 million reserve plan, announced that it has raised $25.5 million through a private placement to expand its Crypto Ecosystem Reserve strategy, The Block reported.
The fund, raised by Amber Group subsidiary Amber International, was joined by major institutional investors including Pantera Capital, CMAG Fund and Kingkey Financial International.
Amber International issued more than 12 million shares of Class A common stock on Nasdaq to raise capital.
Since establishing the crypto reserve last May, Amber International has invested in Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). With this capital expansion, the company plans to expand its portfolio to include Binance Coin (BNB), Ripple (XRP), and Sui (SUI).
“With this strategy, we aim to meet institutional demand for tokenized real-world assets (RWA) and pioneer blockchain-based financial innovation,” a spokesperson from Amber International said.
