- The latest funding round propels Babel Finance into the ranks of the world's 
most valuable crypto financial services companies in the institutional services 
sector

Babel Finance, the world's leading wholesale crypto financial services 
provider, announced the completion of a US$80 million Series B financing round 
at a valuation of US$2 billion. The main investors in this round include 
Jeneration Capital and 10T Holdings, as well as existing shareholders Dragonfly 
Capital and BAI Capital. Other investors include Circle Ventures and a number 
of family offices in the Asia-Pacific region.

Babel Finance is one of the largest service providers to institutions in the 
crypto financial markets. The company limits its business to BTC, ETH and 
stablecoins, and serves a select clientele of about 500 customers. At the end 
of 2021, the firm had an outstanding loan balance of more than US$3 billion, an 
average monthly trading volume of US$800 million in derivatives, and had 
structured and traded more than US$20 billion in options products.

The company's major businesses are crypto lending and trading, with a focus on 
serving institutional clients, including crypto-native institutions, 
traditional financial institutions such as banks and investment funds, as well 
as ultra-high-net-worth accredited investors and family offices. Since its 
establishment in 2018, Babel Finance has been committed to the development of 
crypto financial services infrastructure, and has become an important 
participant and builder of the crypto financial interest rate market and 
derivatives trading market. 

"The crypto financial market is full of opportunities and hidden risks. From 
the perspective of short-term profits, the retail market and Altcoins may have 
higher profit margins, but we pay more attention to the long-term development 
of the industry and aim to lead in institutional financial services and 
innovation," said Del Wang, co-founder and CEO of Babel Finance. "This not only 
helps to overcome the many uncertainties in the early stage of the industry, 
including regulatory and market uncertainties, it also protects our customers 
to the greatest extent."

"As the crypto financial industry becomes more institutionalized, our mission 
at Babel Finance is to explore and participate in the building of the 
fundamental financial order and rules for the industry," added Wang. "By doing 
so, we contribute to its long-term development as we ourselves grow."

Commenting on the decision to invest in Babel Finance's Series B financing 
round, Jason Tan, Partner and Chief Investment Officer of Jeneration Capital, 
said: "The institutional investor market is in its early stages of 
participating in the crypto asset class. It requires both commitment to risk 
management and professionalism to build trust in the ecosystem. Babel Finance 
is becoming an important node in the crypto ecosystem, enabling existing and 
new participants to thrive in this flourishing asset class."

"Babel Finance has opened up a market with high barriers to entry and great 
value in the emerging field of institutional investor services in crypto," said 
10T CEO and Managing Partner Dan Tapiero. "Babel Finance has built a laudable 
reputation as a highly specialized and trusted crypto financial institution, 
maintaining its leading position among the institutional client-focused market."

"Babel Finance is in the right place at the right time with the right products, 
serving the groundswell of demand from institutional investors and family 
offices for sophisticated digital asset products and services," said William 
Zhao, Partner of BAI Capital. "Babel Finance differentiates itself from the 
competition with a focus on the corporate and wealth segments of digital 
assets. The firm has found the sweet spot of offering local access and 
knowledge of a dynamic region to globally minded institutional investors." 

Since the firm's US$40 million Series A funding in May 2021, Babel Finance's 
team has grown from around 50 people to over 170 currently. The firm has opened 
a new office in Singapore and applied for relevant licenses in Hong Kong, 
Luxembourg, the United Kingdom, and other countries and regions around the 
world, and has obtained business qualifications in many jurisdictions.

About Babel Finance

Babel Finance is a leader in the crypto financial institutional investor 
services market, dedicated to providing institutional investors and 
ultra-high-net-worth accredited investors with professional services and 
customized solutions in crypto asset lending and trading. Babel Finance is 
supported by well-known investment institutions including Sequoia Capital 
China, Tiger Global Management, Dragonfly Capital, BAI Capital, Jeneration 
Capital, and 10T Holdings. For more information please visit: 
https://babel.finance/ 

Source: Babel Finance