Digital Asset data company Amberdata raises Series A funding led by Citi

Karthik Subramanian

Amberdata, the digital asset data startup, has announced that it has raised $15 million in its Series A funding that was led by Citi and involved other investors like Franklin Templeton, Galaxy Digital, and others.

The company collects data across a variety of blockchain networks and gives this data in a neatly packaged and customized form to its institutional clients. The company says that it analyses data from 8 million blockchain transactions daily and the data supplied by it is used for research, trading, risk management, and data analytics by its clients. The client can also integrate this data into their own platforms easily through APIs that the company provides.

“Partnering with the exceptional group of strategic investors gives us unprecedented insights into institutions’ roadmap and challenges,” said Shawn Douglass, CEO at Amberdata. “Blockchain technology enables entirely new financial products to be created and offered at a much lower cost with global market reach. We see growing institutional interest and demand in crypto assets. Our customer list and investors are a stamp of approval for the value we are creating for institutions.”

Data analytics is key in the trading world and irrespective of whether it is stocks or FX or crypto, data collection and analysis is a field that will always be around as it helps feed the hunger of trading teams and hedge funds for as much data as possible to ensure that they stay on top of the market and exploit any minor loopholes or discrepancies that they can find in the market. The amount of data devoured by institutions are now several-fold when compared to about a decade ago and with algos dominating all the markets at this time, the need for data is even more now than ever before. The fact that Citi has invested in a data startup that specializes in digital assets has indeed raised many eyebrows.

“Amberdata has a unique approach and an extensive offering that transforms complex data into easy-to-use information,” said Itay Tuchman, Global Head of Foreign Exchange at Citi. “They have been great partners to collaborate with and helped us to utilize data much faster than expected.”

It just goes to show that cryptos are here to stay as a trading ecosystem and many big players like Citi have realized that and have joined the race for trading and also data hunting in this ecosystem.

Read this next


Stagflation Speculation: Is the UK Economy Heading for Uncharted Waters?

Amid rising concerns about a potential recession, the term “stagflation” is increasingly being used to describe the UK’s current economic scenario, characterized by conflicting indicators such as high inflation and stagnant growth.

Industry News

Exness Becomes Titanium Sponsor for 6th Annual Forex Expo in Dubai.

Multi-asset broker Exness has been named the Titanium Sponsor for the 6th edition of the Forex Expo in Dubai, further cementing its role as a key player and supporter in the trading industry.

Digital Assets

Mt. Gox victims to wait another year for repayments

Nobuaki Kobayashi, the trustee responsible for managing the assets of the now-defunct Mt. Gox Bitcoin exchange, has announced an extension of the deadline for repaying the exchange’s creditors.


Sumsub launches Non-Document Verification in the UK: Client onboarding in 5 seconds

Sumsub’s partnership with OneID introduces Non-Document Verification, enabling near-instant identity verification through official bank records while ensuring compliance with UK regulations.

Industry News

CFTC fines Advantage Futures $395,000 for 12.8 million unmonitored trades

Collectively, these failures by Advantage resulted in over 12.8 million cleared contracts not being processed or surveilled from July 2018 to June 2022. This accounts for nearly 1.5% of the trading volume by Advantage’s customers during that four-year period.

Industry News

SEC doubles down on fund names rule: “Growth”, “Value”, “ESG” better watch out

“As the fund industry has developed over the last two decades, gaps in the current Names Rule may undermine investor protection. Today’s final rules will help ensure that a fund’s portfolio aligns with a fund’s name. Such truth in advertising promotes fund integrity on behalf of fund investors.”

Industry News

ASIC sues crypto exchange Kraken over alleged margin trading product violations

“These proceedings should send a message to the crypto industry that products will continue to be scrutinised by ASIC to ensure they comply with regulatory obligations in order to protect consumers. ASIC’s action should be a reminder of the importance to comply with the design and distribution obligations so that financial products are distributed to consumers appropriately.”

Industry News

ASIC grants 332 new AFS licenses in 2023 (YoY)

ASIC’s annual licensing report aims to increase transparency and offer guidance to licensees, professional auditor registrants, and prospective applicants regarding ASIC’s licensing and professional registration decision-making processes.

Digital Assets

Lumerin launches P2P marketplace for BTC mining capacity

Lumerin, a decentralized hashpower marketplace, is set to launch on September 26th on the Arbitrum One network following a rigorous testnet period.