{"id":591943,"date":"2022-03-19T03:56:01","date_gmt":"2022-03-19T03:56:01","guid":{"rendered":"https:\/\/www.abnewswire.com\/pressreleases\/?p=591943"},"modified":"2022-03-19T03:56:01","modified_gmt":"2022-03-19T03:56:01","slug":"babel-finance-using-fintech-hand-to-help-navigate-regulatory-landscape","status":"publish","type":"post","link":"https:\/\/www.abnewswire.com\/pressreleases\/babel-finance-using-fintech-hand-to-help-navigate-regulatory-landscape_591943.html","title":{"rendered":"Babel Finance Using Fintech Hand to Help Navigate Regulatory Landscape"},"content":{"rendered":"<div style=\"font-style:italic; padding:8px 0px;\">The Hong Kong-based crypto lender says new CFO Edmond Lau will oversee $500 million in assets under management.<\/div>\n<p style=\"text-align: justify;\">Crypto lender Babel Finance appointed Edmond Lau, a former Citigroup vice president, as its chief financial officer, hoping he will keep the company on regulators&#8217; good side.<\/p>\n<ul style=\"text-align: justify;\">\n<li>Lau, also a former managing director of Beijing-based VC firm Lingfeng Capital, will lead fundraising efforts and &#8220;provide strategic input&#8221; for Babel&#8217;s business and regulatory compliance planning, according to a press release shared with CoinDesk.<\/li>\n<li>Lau will &#8220;unquestionably&#8221; boost the company&#8217;s relationship with regulatory bodies, Babel co-founder and CEO Flex Yang said.<\/li>\n<li>Babel&nbsp;<a rel=\"nofollow\" href=\"https:\/\/www.coindesk.com\/business\/2021\/05\/10\/babel-finance-raises-40m-from-zoo-capital-sequoia-capital-tiger-global\/\">closed<\/a>&nbsp;a $40 million Series A funding round in May, had lent $2 billion and counts $500 million in crypto assets under management, the press release said.<\/li>\n<li>Lau will also oversee M&amp;A activities and partnerships.<\/li>\n<li>Babel Finance applied for a&nbsp;<a rel=\"nofollow\" href=\"https:\/\/offshorelicense.com\/licensing\/hong-kong-type-9-asset-management-license\">Type 9<\/a>&nbsp;asset management license in Hong Kong last November, but has yet to receive approval.<\/li>\n<li>Huobi Technology&nbsp;<a rel=\"nofollow\" href=\"https:\/\/huobitech.com\/wp-content\/uploads\/2021\/03\/2021030400049.pdf\">secured<\/a>&nbsp;the license in August 2020, and&nbsp;<a rel=\"nofollow\" href=\"https:\/\/technode.com\/2021\/04\/22\/huobi-subsidiary-launches-bitcoin-ether-crypto-mining-funds-in-hong-kong\/\">launched<\/a>&nbsp;dedicated crypto funds in April.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">Babel Finance is a global leading crypto financial services provider, offering institutional and HNWI investors professional services covering crypto lending and crypto trading.<\/p>\n<p style=\"text-align: justify;\">The company is backed by prominent investors including Sequoia Capital China, Tiger Global Management, BAI Capital, Zoo Capital, Dragonfly Capital, and NGC Ventures.<\/p>\n<p style=\"text-align: justify;\">With a business focus in Asia and a business headquarters in Singapore, Babel Finance has established close cooperative relationships with major global exchanges, custodians, investment funds, and mining institutions.<\/p>\n<p style=\"text-align: justify;\">Babel Finance\u202fbelieves that a more inclusive financial system will benefit everyone in the world. As a conducive supplement to traditional finance,\u202fcrypto\u202ffinance will help people manage risks more effectively. With this belief, it is Babel Finance&rsquo;s responsibility to support the development of cryptocurrency, let more people learn and understand blockchain technology and Bitcoin, increase awareness of cryptocurrencies, and promote social equity.<\/p>\n<p><span style='font-size:18px !important;'>Media Contact<\/span><br \/><strong>Company Name:<\/strong> <a href=\"https:\/\/www.abnewswire.com\/companyname\/babel.finance_88481.html\" rel=\"nofollow\">Babel Finance<\/a><br \/><strong>Email:<\/strong> <a href=\"https:\/\/www.abnewswire.com\/email_contact_us.php?pr=babel-finance-using-fintech-hand-to-help-navigate-regulatory-landscape\" rel=\"nofollow\">Send Email<\/a><br \/><strong>Country:<\/strong> Singapore<br \/><strong>Website:<\/strong> <a href=\"https:\/\/babel.finance\/\" target=\"_blank\" rel=\"nofollow\">https:\/\/babel.finance\/<\/a><\/p>\n<p><object type=\"text\/html\" data=\"https:\/\/babel.finance\/\" style=\"width:900px; height:400px;\"><\/object><img decoding=\"async\" src=\"https:\/\/www.abnewswire.com\/press_stat.php?pr=babel-finance-using-fintech-hand-to-help-navigate-regulatory-landscape\" alt=\"\" width=\"1px\" height=\"1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Hong Kong-based crypto lender says new CFO Edmond Lau will oversee $500 million in assets under management. Crypto lender Babel Finance appointed Edmond Lau, a former Citigroup vice president, as its chief financial officer, hoping he will keep the &hellip; <a href=\"https:\/\/www.abnewswire.com\/pressreleases\/babel-finance-using-fintech-hand-to-help-navigate-regulatory-landscape_591943.html\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[401,425,412,423],"tags":[],"class_list":["post-591943","post","type-post","status-publish","format-standard","hentry","category-Business","category-Finance","category-News-Current-Affairs","category-Professional-Services"],"_links":{"self":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts\/591943","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/comments?post=591943"}],"version-history":[{"count":0,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts\/591943\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/media?parent=591943"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/categories?post=591943"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/tags?post=591943"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}