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Temasek is leading a $200 million fundraising round for crypto startup Amber

The cryptocurrency platform Amber Group has raised US$200 million in a fundraising round headed by Singapore’s sovereign wealth fund Temasek, bringing its valuation to US$3 billion.

Sequoia China, Pantera Capital, Tiger Global Management, Tru Arrow Partners. Then, and Coinbase Ventures were among the existing investors in the round.

The new money will be used to expand the company, make strategic acquisitions, hire new employees, and support environmental projects.

Amber Group became a unicorn in June of last year. That’s, after raising US$100 million in a Series B round to raise its worth to US$1 billion.

So, Amber Group, based in Singapore, caters to both institutional and consumer markets across more than 150 countries. Thats, with over US$1 trillion in traded volume and over US$5 billion in assets under management.

Amber Group’s funding comes a month after Singapore’s central bank, the Monetary Authority of Singapore, banned crypto ads and promotions.

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