Amber International Holding Limited

Good morning, and welcome to Amber International Holding Limited's Fiscal Year 2024 Earnings Conference Call. At this time, all participants are in listen-only mode. A question and answer session will follow the following presentation. If you'd like to ask a question at that time, you may press star 1 from your telephone keypad, and a confirmation tone will indicate your line is in the question queue. If you'd like to withdraw your question at any time from the queue, you may press star 2. As a reminder, those participants are using speaker equipment. Please pick up your handset before pressing the star keys. As a reminder, this conference call is being recorded. It is now my pleasure to introduce your host, Mr. Terrence Lee, Chief Strategy Officer of Amber International Holding Limited. Mr. Lee, you may begin.

Thank you. Good morning, everyone, and welcome to Amber International Holding Limited's Physical Year 2024 Earnings Conference Call. My name is Terrence Lee, Chief Strategy Officer of Amber International Holding Limited. Before we begin, I would like to remind everyone that today's discussion may contain forward-looking statements within the meaning of federal securities law. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. For a more detailed description of these and other risks and uncertainties, Please refer to our findings with the Securities and Exchange Commission, including our recent Form 20-F. On today's call, we have Wing Hao, our Chief Executive Officer, and Josephine Ai, our Chief Financial Officer. They will be discussing our financial results for the fiscal year end December 31, 2024. and providing an update on our business strategy following our recent merger and nested listing under the ticker symbol AMBR. Today's agenda will begin with Wayne providing an overview of our business and strategic initiatives, followed by Josephine's review of our financial results. We will then open the call for your questions. With that, I will now turn the call over to our CEO, Wayne Ho. Wayne, please go ahead.

Thank you, Terrence. Good morning, everyone, and thank you for joining us today for Amber International Holding Limited's Fiscal Year 2024 Earnings Conference Call. I'm Wayne, CEO and Director of Amber International and Institutional Crypto financial services and solutions provider operating under the brand name Amber Premium and headquartered in Singapore. Before we begin, I'd like to express my gratitude to our shareholders, clients, and employees for their continued support throughout this transformative year. Our team has worked tirelessly to position Amber Premium as a leader in institutional crypto finance and I'm excited to share our progress with you today. Let me begin by providing an overview of Ember International's journey, business model, and the market environment we are operating in. On March 12, 2025, we successfully completed the merger between Ember DWM Holding Limited and iClick Interactive Asia Group Limited. marking a significant milestone in our journey as we became publicly listed on the NASDAQ under the name Amber International Holding Limited with the ticker symbol AMBR. This listing represents not just a financial achievement, but a validation of our vision to become the top choice of a one-stop institutional digital asset services and solution provider. that drive crypto adoption in the world. For those who may be new to our story, Amber International Holding Limited operates under the brand name Amber Premium, providing institutional crypto financial services and solutions. We deliver institutional-grade market assets, execution infrastructure, and investment solutions to help institutions and high net worth individuals optimize their digital asset portfolios. Established in 2021 as originally Amber Group's crypto private banking business, Amber Premium formally commenced operation as an independent business unit in the second half of 2023. Since then, we've built a regulated scalable financial ecosystem powered by proprietary blockchain and financial technologies, AI-driven risk management, and quantitative algorithms across centralized finance, decentralized finance, and OTC markets. During our operation, the digital asset market has experienced significant growth. with total market capitalization surging from approximately $800 billion as of the end of 2022 to close to $4 trillion at the end of 2024. This growth is fueled by increasing institutional adoption of digital assets, the rapid development of decentralized finance ecosystems, and the breakthrough of advanced blockchain technologies. As financial institutions, hedge funds, family offices, and high net worth individuals increasingly integrate digital assets into their portfolios, the demand for sophisticated wealth management solutions has intensified. As institutions and high net worth individuals expand beyond basic crypto ETFs and Bitcoin exposure, Amber Premium is positioned to address three critical industry challenges. First, fragmented liquidity across centralized and decentralized markets, which brings challenges to execution efficiency. Our deep industry connectivity and fast mover advantage unlock access to new token markets, liquidity pools, and DeFi venues, enabling institutions to deploy capital seamlessly across all types of crypto markets and venues. Second, crypto yield sources are rich but spread across decentralized protocols and centralized spot markets and derivative markets. Amber Premium's structured yield solutions apply the latest technologies and enable clients to access the aggregated opportunities across these venues. Finally, regulatory complexity, which often slows down institutional adoption. Amber Premium operates as a regulated platform with automated compliance tools, institutional grade KYC AML procedures, and transparent governance frameworks. This allows clients to navigate the market confidently and compliantly while securely scaling their digital asset portfolios. By solving these challenges, ML Premium is the trusted gateway for institutions and high net worth individuals to start from basic crypto exposure to sophisticated, compliant digital asset strategies. Next, I'll walk you through our key business segments. Our business model is uniquely positioned to bridge traditional finance and decentralized finance with institutional-based solutions. We've built our operations across three key business segments. First, our full-stack execution solution provides institutional market access to thousands of trading pairs across over 100 trading venues, covering centralized exchanges, decentralized liquidity pools, and OTC markets. Our high-performance trading infrastructure handles over a billion US dollars of client transaction volumes monthly, supporting sophisticated trading algorithms for optimized execution. Second, Amber Premium provides comprehensive wealth management solutions, including structured investment products such as dual currency options strategies and accumulator-decumulator products designed for strategic asset accumulation and risk-adjusted exposure management. We also provide Yale and DeFi solutions featuring earned programs, staking rewards, and DeFi Yale enhanced products to optimize capital efficiency with control risk exposure. Additionally, our strategic funds deliver regulated audited assets to high growth opportunities in cryptocurrencies. Finally, Collateralized Lending offers crypto-backed financing solutions with competitive rates, flexible terms, and automated safeguards to minimize liquidation risks. Third, our seamless crypto payment solutions facilitate secure, regulated crypto-to-fiat and fiat-to-crypto conversion alongside the Amber Premium crypto card that allows clients to make payments instantly and globally with their crypto asset balance with Amber Premium. Central to our value proposition is our distinctive 1 plus N premium service model, delivering tailored integrated wealth management solutions. Each client is supported by a dedicated relationship manager alongside a team of specialists, ensuring a seamless and highly personalized experience. Our client base includes institutional investors such as financial institutions, hedge funds, private banks, proprietary trading firms, and corporate treasuries, as well as high net worth individuals and family offices looking for crypto structure investment products and personalized portfolio management. Following that, I would like to highlight the strategic initiative we've undertaken and how they will be enhancing the resilience of our business. We've had several achievements to strengthen our position in the institutional crypto finance space. On the technology front, Ember Premium has developed proprietary platforms, including secure, user-friendly mobile apps and web interfaces for real-time trading, investing, and portfolio management. We are also capable of integrating to the latest advanced smart contract and blockchains that enhances our offerings with DeFi capabilities such as Yale-enhanced products, staking rewards, and airdrops from leading crypto projects. We provide institutional-grade security through military-grade encryption, multi-factor authentication, and hybrid hot-code wallet storage. These expertise take years to develop. Meanwhile, on the business front, Amber Premium is expanding its presence in the real-world asset tokenization ecosystem. The company is developing blockchain-native Yale-enhanced investment products, providing institutional clients with diversified, transparent, and secure access to emerging crypto opportunities. In addition to enhanced market positioning, Amber Premium is implementing a refined go-to-market strategy and integrating key resources across regions. Building on a strong reputation for service quality and trust, our marketing efforts remain client-centric, emphasizing long-term value creation and relationship-based engagement. With all the technology and business developments, Amber Premium is able to sustain stability across market cycles, distinguishing itself from retail-driven platforms through our institutional-grade infrastructure and a diversified, compliant-first operating model. Here's how we achieve resilience. First, institutional client-based anchor in our long-term strategies, our focus on high net worth individuals and institutions who prioritize long-term asset allocation over speculative trading. reduces exposure to short-term volatility. Second, diversify revenue model beyond trading volumes. Unlike platforms relying on transaction fees, Amber Premium's revenue streams are diversified, offering products that meet different risk preferences across different market cycles. Third, regulatory and operational excellence. Headquartered in Singapore and with additional presence in other major global financial hubs. We adhere to highest KYC standards and maintain institutional-grade custody. These measures mitigate security risks and help with asset protection, even during high volatility periods. Now, turning to our outlook for 2025, I will share the priorities and growth initiatives we are focused on. as we move forward. We are focused on executing our growth strategy across several dimensions. Following the completion of the merger in March 2025, Amber International is executing a focused strategy to strengthen its leadership in institutional crypto finance. The company is enhancing its compliance-first scalable platform to better serve the evolving needs of institutions and high-net-worth individuals globally. Strategic priorities for 2025 include expansion into tokenization of real-world assets, enhancement of our institutional-grade product suite, and the rollout of a refined go-to-market strategy across core financial hubs. These efforts are supported by a modern geographic footprint with a particular focus on regulated markets in Asia and the Middle East. As previously announced, Sparrow Tech Private Limited, a major payment institution licensed under the Payment Service Act by the Monetary Authority of Singapore, has recently integrated into Amber International. following the approval from the Monetary Authority of Singapore, a milestone in executing our strategic priorities. Effective April 30, 2025, Sparrow will operate under the new brand name Amber Premium Singapore, further reinforcing the company's regulatory presence in Asia. In conclusion, fiscal year 2024, has been transformative for Amber International Holding Limited. Our successful merger with NASDAQ listing, combined with our growing client base and asset under management, positioned us well for continued success. Legacy infrastructure from iClick has enabled a smooth transition to public markets, and Amber International is now entering the next phase with clarity and strategic focus. We remain committed to our mission of connecting ChatFi and DeFi with institutional-grade solutions, empowering institutions and high-net-worth individuals with seamless access to digital assets. As a non-statistic company, we will continue to deliver reliable trading technology, risk management, and scalable infrastructure to accelerate crypto adoption. I would like to once again thank our shareholders, clients, and employees for their support. We look forward to continuing our journey as a public company and delivering long-term value to all our stakeholders. With that, let me hand the call over to our CFO, Josephine Ngai, who will walk you through our financial results for fiscal year 2024 in more detail.