• Babel Finance, a Hong Kong-based cryptocurrency lender, has expanded to Singapore

  • Babel Finance, a Hong Kong-based crypto lender and asset manager, announced today the establishment of Babel Asia, a business headquarters in Singapore, as the company seeks to serve more clients globally.

    Babel Asia intends to use Babel Finance as a base for future merger and acquisition activities in order to drive mainstream adoption of crypto finance, according to a company statement.

    To remain compliant, Babel Asia is applying for relevant regulatory licensing in Singapore. “Singapore’s dependable legal system, prestigious wealth management industry, and forward-thinking approach to crypto regulation make it an excellent launchpad for a business headquarters,” said Flex Yang, CEO of Babel Finance, in a statement. “Because Singapore regulators are notorious for being tough on money laundering, being fully compliant in this market will increase the appeal of crypto assets among traditional investors.”

    The new entity in Singapore will function as an independent business unit for future development, while Babel Finance will continue to provide services from its Hong Kong headquarters.

    Babel Finance is not the only cryptocurrency firm that has expanded to Singapore. Binance, a major cryptocurrency exchange, appeared to be increasing its presence in Singapore.

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