Amber Group’s recent Nasdaq debut may be the beginning of a broader trend in crypto finance, according to Pantera Capital’s Managing Partner Paul Veradittakit.

Amber International, a subsidiary of the Hong Kong-based crypto services provider, began trading on the Nasdaq on March 13. The move positions Amber as one of the few institutional crypto players to go public in the U.S., with backing from early investor Pantera Capital.

Veradittakit believes this milestone could pave the way for a wave of crypto IPOs, as regulatory clarity improves and institutional interest accelerates. “We’re seeing strong momentum,” he said. “Roughly ten of our portfolio companies are actively considering going public.”

Sectors being explored for IPOs include custody platforms, stablecoin issuers, and blockchain development tools. On Tuesday, Circle—issuer of the USDC stablecoin—also confirmed plans to list on the New York Stock Exchange.

The listing gives Amber added visibility and capital to expand globally, CEO Wayne Huo said. “This isn’t about East versus West,” he added. “It’s about building a bridge between U.S. capital markets and Asian innovation.”

Amber’s shares closed Tuesday at $11.38, valuing the company at approximately $1 billion.