Amber International (AMBR) said on Friday that Singapore-based Sparrow Tech Private Limited has received the necessary regulatory approvals to become an indirect, wholly owned subsidiary of the crypto financial services company.
Sparrow Tech holds a license from the Monetary Authority of Singapore to provide digital payment token services to major payment institutions under the Payment Services Act. The addition is expected to enhance the client experience at Amber and supports its broader strategy to consolidate services on a unified platform aligned with local regulatory guidelines.
Sparrow Tech will be rebranded as Amber Premium Singapore, with that process set to finish by the end of April, the companies said.
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