Crypto financial services firm Amber International has announced the completion of $25.5 million raise from private placement. The firm plans to acquire Ripple (XRP), Binance Coin (BNB), and Sui (SUI) tokens, after the reserve allocation toward major crypto assets, including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
Amber International to Buy BTC, ETH, SOL, XRP, BNB and SUI
Nasdaq-listed Amber International completed $25.5 million private placement to expand its $100 million crypto ecosystem reserve fund, according to a press release on July 3.
The company plans to use proceeds from the private placement to expand $100 million Crypto Reserve initiative. The reserve primarily focused on Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). However, the company said it plans ongoing deployment into Binance Coin (BNB), Ripple (XRP), and Sui (SUI).
The private placement involved the issuance of 12,200,915 Class A ordinary shares, equivalent to 2,440,183 ADSs. The raise was led by CMAG Funds, Mile Green, Pantera Capital, Choco Up, Kingkey Financial International (Holdings) Limited (1468.HK), and other prominent investors.
Amber International to leverage the reserve to support innovative projects on these blockchains, offering distinctive products and services to institutional clients. Real World Assets (RWA) and AgentFi are two primary areas the company wants to stay on the cutting-edge of blockchain innovation.
Notably, many companies have planned to build XRP treasury reserves, which include Trident Digital, Webus International, VivoPower, and Worksport, among others.
Meanwhile, Nano Labs plans to build an initial $1 billion BNB treasury and Lion Group Holding as the primary SUI holder, along with other tokens.
XRP, BNB and SUI Price Action
XRP eyes $3 on treasury reserves and ETF prospects, as the Ripple vs SEC lawsuit ended. The price is currently trading at $2.25, with a 24-hour low and high of $2.24 and $2.31, respectively. Furthermore, the trading volume decreased by 6% in the last 24 hours.
BNB price has jumped nearly 0.5% in the last 24 hours, with the price currently trading at $663. The 24-hour low and high are $657.20 and $664.39, respectively.
In contrast, SUI price has soared over 4% in the last 24 hours, with the price currently trading at $3.01. The 24-hour low and high are $2.88 and $3.07, respectively. Furthermore, the trading volume has increased by 23% in the last 24 hours, indicating a massive interest among traders.
