Temasek-backed Amber Group buys regulated crypto platform Sparrow Exchange

Published Tue, Dec 13, 2022 · 08:27 PM

The acquisition of Sparrow by Amber comes amid a turbulent time for crypto platforms, which have been hit hard by the collapse in prices and a string of scandals. PHOTO: BLOOMBERG

TEMASEK-BACKED Amber Group, which is in the middle of major cost-cutting, has acquired crypto platform Sparrow Holdings.

Amber fully bought the entity, which is known in the industry as Sparrow Exchange, on Nov 29, regulatory records in Singapore showed.

Sparrow Holdings is the holding company that owns licensed entity Sparrow Tech.

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