The recently launched crypto investment app, WhaleFin, has received FCA approval.
The digital investment platform WhaleFin Technologies, a subsidiary of the Amber Group, has been officially approved by the Designated Representative (AP) of the UK Financial Conduct Authority (FCA). The document allows Amber’s subsidiaries to represent FCA Strata Global licensed companies.
The partnership between WhaleFin and Strata Global will help Amber Group enter the UK market, according to a press release published by TheBlock. The Amber Group views the UK as “one of the key markets”.
Amber Group started operations in the country in September 2021, examining the potential of the digital asset market. An FCA study on cryptoasset holdings found that there are currently up to 2.3 million cryptocurrency users in the UK, up 1.9 million from 2020. More than half of them expressed a desire to invest more in crypto assets as an alternative or together. with a big investment.
“We are moving towards becoming a fully regulated and FCA-approved digital financial services company in the UK,” said Olaf Ammermann, Managing Director of WhaleFin Technologies UK.
Amber Group is a digital asset platform with offices in Asia, Europe and America. The company helps users invest, finance and trade with cryptocurrencies. The startup investors are Paradigm, Dragonfly, Pantera, Polychain, Sequoia and Tiger Global.
The WhaleFin app launched on December 15 and allows clients to invest in cryptocurrencies.
As a reminder, in November, Amber Group became Mastercard’s partner in hosting crypto payments in the Asia-Pacific region.
Read also: Russians can be prohibited from replenishing the deposits of crypto exchanges, studied in Forbes.