Amber Group’s leap into the public markets may be the beginning of a much broader trend in crypto finance.
The Hong Kong-based firm, known for offering crypto financial services to institutional clients, made headlines earlier this month when its subsidiary, Amber International, listed on the Nasdaq under the ticker AMBR. The move marked one of the first major public offerings from a global crypto company in 2025.
Pantera Capital, which backed Amber early on, believes this debut is just the start. Managing partner Paul Veradittakit said in an interview that the firm expects a number of crypto-native businesses to follow Amber’s lead and seek public listings in the U.S.
“We’re watching the early stages of a wave,” he said. “At least ten companies in our portfolio are considering going public.”
According to Veradittakit, the listing offers dual benefits: it gives crypto companies access to much-needed capital while also providing institutional investors with a formal, regulated path into the space. That’s something many traditional investors have been waiting for.
He added that sectors like crypto custody, stablecoin infrastructure, and blockchain developer platforms are now actively evaluating IPO readiness. And the momentum isn’t limited to Amber—Circle, the company behind USDC, filed plans this week to go public on the New York Stock Exchange.
What’s changed? Supportive U.S. regulation, said Veradittakit. “The environment has become more constructive. That’s giving international firms the confidence to go public here.”
Amber CEO Wayne Huo echoed those sentiments, calling the listing a bridge between East and West. “This isn’t a competition between Asia and the U.S.,” he said. “It’s about connecting two ecosystems—Asian innovation and U.S. market strength.”
Huo said the company plans to use the proceeds and visibility from its IPO to grow its international footprint and deepen its institutional crypto offerings. Amber closed Tuesday at $11.38 per share, giving the company a $1 billion market cap.
“This is just the first act,” Huo said. “We’ve built the foundation—now it’s time to scale globally.”
