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

Executive Moves

Crculus taps Michael Idzkowski as head of sales

Michael Idzkowski has joined Crculus, a UK-based startup that describes itself as a multi-custody middleware infrastructure for financial institutions, in the post of its head of sales.

Retail FX

ActivTrades jumps on fractional stock trading bandwagon

CFDs and FX broker, ActivTrades has updated its trading offering to provide its clients with the opportunity to trade fractions of stocks.

Digital Assets

BitMEX to list its native token by end of 2023

BitMEX CEO Alexander Hoeptner said the crypto exchange is planning to list its native token, called BMEX, on the spot market by the end of the year.

Market News

Forex investments take over popular sentiment as a worthy global trend

Quite the confusion is afoot in the financial markets. Tighter regulation, rising inflation, energy sector disruptions, social unrest and wars have taken a toll on the world’s economies. How come Forex, as a means of investment, has come up on top as a global trend in 2022? Against the backdrop of current events, the international broker’s expert team at OctaFX has gathered some answers.

Crypto Insider, Metaverse Gaming NFT

How Hiding Crypto’s Influence Will Be Key To Unlocking Its Success

In past years, cryptocurrency has advanced well beyond the technophiles responsible for its initial success to reach widespread name recognition. Crypto has found its way into news, music, culture, and other relevant facets of daily life. 

Digital Assets

SCRYPT Digital taps Enclave Markets to mirror dark pool trading in crypto

“A service like this has been sorely lacking in the crypto space. There hasn’t been a solution that provides the security or privacy that institutions require with these kinds of trades.”

Institutional FX

FXSpotStream reports record monthly volume at $1.613 trillion

Trading volumes on institutional FX platforms surged in September after fears over the impact of recent developments around Russia’s military invasion of Ukraine sent speculative asset classes reeling.

Industry News

OKX adds four-time Olympian snowboarder Scotty James as brand ambassador

‘What is OKX?’ is the name of the new multi-milion dollar brand campaign launched by crypto exchange OKX as part of its efforts toward world expansion.

Industry News

Circle buys Elements and announces beta version of Crypto Payments API

“Lowering barriers of entry for payments and financial services and establishing dollar payments utility are core to Circle’s mission.”