Babel Finance is a cryptocurrency lender and borrower. The firm primarily offers financial services and is based in Hong Kong. It serves institutional investors and investors having top net worth profiles.
The company has a further focus on industries such as finance, technology, cryptocurrency, blockchain, financial services, financial technology, blockchain, and cryptocurrency. Babel Finance was founded in 2018 and is privately held. The company is headquartered at Hong Kong in Hong Kong. The workforce of the company is around 100.
Babel Finance – History And Growth
Babel Finance was previously known as Babel Bank. Following the founding of the Babel Bank, the Babel Bank app was released. The angel investment was from NGC investors.
Further, in 2019, Babel Bank was renamed Babel Finance and rebranded as a commercial crypto-financial institution. On the day of the renaming, the company’s loan balance increased exponentially, reaching 100 million US dollars. This was ten times more than the loan amount that was raised before.
In the following July, Babel Labs was established. The aim of Babel Labs was to explore frontier blockchain technology, applications, and open-source technologies.
In 2019 August, an inter-institutional lending service for institutional clients was launched. By the end of 2019, the company’s loan reached 289 million US dollars. In the first month of 2020, Babel PRIVATE was launched; it functions as a service brand for high-net-worth individual clients.
In June 2020, the Ethereum mining pool of Babel Finance was launched and it made its debut in Ethereum block mining at a block height of 10327266. The mining left the message ‘BABELPOOL HELLO_ETH’, which was the first ever message that was sent over the Ethereum block mining network by Babel.
On September 1, 2021, a business headquarters launch was announced which was to be opened in Singapore by the name Babel Asia, and Shanshan Yu was appointed as the CEO. The headquarters will be a hub for entrepreneurs and executives looking to start or grow their businesses in Asia.
The company offers services in Singapore and the United States in addition to Hong Kong.
Babel Finance: Fund Rounding
Babel Finance has undergone multiple funding rounds.
The first one was in November 2018 named the Babel Finance Seed Round. The other funding rounds were the Babel Finance Venture round in March 2020, Babel Finance Series A Round in May 2021, the Two Babel Finance Series B Round, and another Series B round on May 25, 2022. The latest funding round was a loan.
The amount amassed from the latest funding round is 2,000 million US dollars and the total amount from all the funding rounds is 4,120 million US dollars.
Babel Finance – Functions
- Crypto Lending And Borrowing
- Cryptocurrency Loans
- Interest Account
- Inter-Institution Market
- Crypto Management
- Crypto Prime Service
Babel Finance: Owns
Babel Private
- A high-end customer service platform
- Provides private bank-level crypto-financial services:
- crypto asset management
- legal & taxation services
- high-end education services
- overseas family office consulting
- high-end life services
- philanthropic services
Babel Private: Features
- Credit lending
- Up to 500,000 USD (tether)
- Asset Management and Investment Advisory
- Sourced turn opportunities
- Plan B
- Customized luxury travel planning
- Legal Consultation
- An active team of expert lawyers
- Tax Consultation
- Professional global tax planning
- Quality Life Services
- Transport facilitation in global airports
- Services in healthcare and
- Medical assistance in major cities
- Information Security
- Family Office
- Provides professional solutions for
- cross-border asset planning
- family trust
- equity structure design
- Provides professional solutions for
Babel Mining
- Mining Pool
- Focuses on Ethereum and Bitcoin mining services
- First-ever mining pool equipped with professional financial services
- Mining Farm
- Provides solid mining facilities
- Provides global power supply
- Provides professional mining machine custody services
- Mining Finance
- Provides services to mining partners to get higher returns
- Provides mining machine pledge loans
- Provides liquidity management
- Provides cash management
- Provides hedging strategies
- Provides services to mining partners to get higher returns
Babel Ventures
- Incubation
- Services for entrepreneurial projects in blockchain and crypto finance to accelerate the growth of startups
- leveraging its advantages in technology
- branding
- financial and partnership resources in the industry
- providing support in ways of office space
- technologic expertise, and
- finance resources
- Consortium Chain
- Provides blockchain-based solutions to financial institutions
- For internal and external cross-platform settlement
- For internal and external cross-platform clearing
- Babel Technology
- API interface services
- trading platforms
- index quotations and
- financial products designed to
- meet various trading and financial needs of institutional customers
- Built on a trading system
- Built on expertise
Babel Finance: Investors
- NGC ventures
- BAI Capital
- Zoo Cap
- Sequoia Capital
- Sequoia Capital China
- Tiger Global
- Dragonfly Capital
- Dragonfly Capital Partners
- Jeneration Capital
- Circle Ventures
- Circle Company
- Circle Social Network Company
- 10T Holdings
- 10T Fund
- Parallel Ventures
- Bain Capital
- Bertelsmann
- Bertelsmann Asia Investment
- Panony
Babel Finance: Invested In
- Paradigm
- Atato
Babel Finance: Key People
Flex Yang founded Babel Finance in 2018. The co-founders are Del Wang and Zhou Yang. Del Wang now serves as the Chief Executive Officer (CEO) of the company.
Other key people are
Joseph Mi is the Chief Operating Officer, Edmond Lau is the Chief Financial Officer (CFO), Yang Song is the Chief Treasury Officer, and Jianfei Zhao is the Senior Advisor of Non-Management Options
Babel Finance: Rivals In The Industry
- Notional
- Genesis Trading
- Matrixport
- OSL Digital Asset Platform
- Blockchain Company
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