Amber Group & Forgd Push Crypto Markets From Perception to Proof

SINGAPORE – May 05, 2026 – A landmark partnership is poised to pull back the curtain on one of the crypto industry's most opaque corners. Digital financial services giant Amber Group has announced it is joining Forgd's market-maker monitoring platform, a move that signals a significant shift from reputation-based evaluations to a new standard of data-driven transparency.

For years, crypto projects launching new tokens have faced the daunting task of selecting a market maker with little more than a firm's reputation and a competitive price quote to guide them. This partnership aims to change that by making Amber Group's historical execution data available to projects in a standardized, verifiable format, ushering in an era where performance, not perception, is the ultimate measure of quality.

Ending the 'Black Box' Era

The business of crypto market making—providing liquidity to ensure smooth trading for digital assets—has long operated as a 'black box'. Projects have struggled to verify the quality of services they receive, often left to wonder if their market maker is truly delivering on its promises of tight spreads and deep order books. This information asymmetry has created an environment where aggressive, often unsustainable bids can win contracts, only for performance to falter once trading goes live.

"For too long, crypto market making has been evaluated on perception rather than evidence," said Michael Wu, Co-Founder and CEO at Amber Group, in a statement accompanying the announcement. "As markets mature, transparency around execution quality is no longer optional—it is essential."

This lack of verifiable data has been a major pain point for the industry. Without standardized metrics, projects cannot effectively compare one market maker's performance against another. This challenge is compounded by the fact that high-quality execution, especially during volatile market conditions, is often 'invisible' until after a deal is signed and capital is committed. The new collaboration directly confronts this issue by making performance metrics visible from the outset.

From Proposals to Performance Data

The partnership leverages Forgd's platform to provide crypto projects with a detailed and objective view of a market maker's capabilities. Instead of relying on promises, projects can now review historical performance data across a range of standardized indicators. These include critical metrics such as bid-ask spreads, order-book depth, uptime, and overall execution quality across various trading venues and market conditions.

This data-rich approach extends directly into the crucial Request-for-Quotation (RFQ) process. Amber Group's participation includes Forgd's structured RFQ workflow, which allows projects to evaluate market-making proposals alongside each firm's verified track record. This fundamentally alters the competitive landscape.

"In competitive RFQ processes, firms that price within realistic risk parameters have often been disadvantaged by aggressive bids that fail to sustain once trading is live," Wu added. "Linking proposals to execution history helps shift competition toward durability and discipline, which ultimately leads to healthier markets."

By grounding RFQs in historical data, the platform empowers projects to distinguish between firms competing solely on aggressive pricing and those with a demonstrated history of providing consistent, resilient liquidity. This shift helps mitigate the risk of projects partnering with market makers who cannot maintain performance, especially during periods of market stress.

A Catalyst for Market Maturity

This move by Amber Group is more than just a new feature; it's a strategic play that reflects the broader maturation of the digital asset industry. By voluntarily embracing radical transparency, the firm is positioning itself as a leader committed to building a more stable and trustworthy market structure.

"Amber Group is exactly the kind of firm this shift is meant to support," noted Shane Molidor, Founder and CEO of Forgd. "The best market makers want their reputation to be built on results, not marketing. By making execution history visible, we give disciplined operators a way to stand out—while helping projects make better, more informed decisions."

The trend appears to be gaining traction. Other firms, such as digital-asset trading firm Selini Capital, have also joined Forgd's platform, indicating a growing industry-wide recognition of the need for verifiable performance data. As more market makers join, Forgd's dataset expands, creating an increasingly powerful feedback loop that rewards good actors and discourages unsustainable practices.

This evolution mirrors similar developments in traditional financial markets, where transparency and execution quality have been under intense scrutiny for decades. By adopting these principles, the crypto industry takes a significant step toward achieving the level of market integrity required to attract and retain institutional capital on a massive scale.

As adoption grows, the platform's expanding dataset will create an ever-more-representative picture of how market makers perform across a diverse range of tokens, venues, and market environments. The result is a market-structure feedback loop that rewards consistent execution, discourages unsustainable practices, and ultimately builds a more resilient foundation for the future of digital finance.