Crypto-related companies have the opportunity to earn money as a crypto industry is flouring in Asia. For example, in 2019, one Hong Kong-based trading company made millions of dollars. The name of this company is Amber.
In 2019, Amber made between $10 and $20 million in revenue, with net profit margins surpassed 50%. Moreover, in 2020 the company plans to double revenue.
It is worth mentioning that Hong Kong’s location makes it a perfect place for crypto companies. The largest exchanges in the world, including Binance, Huobi, and derivatives exchange Bitmex, are in Asia.
Moreover, regulations in Hong Kong are more crypto-friendly than in other countries. As a result, companies do not have to deal with vague regulations.
Crypto investors and Amber
As mentioned above, the crypto market is thriving in Asia. Interestingly, it is home to at least 80% of global trading. It is not surprising that investors are willing to invest in such companies.
Top U.S. crypto investors such as Pantera Capital, Coinbase, Paradigm, Polychain, and Dragonfly invested into Hong Kong-based crypto trading firm Amber. They invested $28 million in Amber. The value of the company is $100 million.
In 2015, Hong Kong residents created a company Amber AI. Two years later, they decided to enter the crypto market. The Hong Kong-based company was able to make money by trading both its capital as well as crypto startups’ money.
In 2018, Amber made $50 million in trades and was able to earn a 40% average return. This company decided to expand its business activities. As a result, Amber became a technology company.
Furthermore, Amber created software to support is its trading. Also, it is trying to develop a platform for large investors. All of the factors combined made Amber an ideal company to invest the money as this company knows to develop the industry.