Babel Finance, a wholesale crypto financial services provider, has completed an $80 million Series B financing round at a valuation of $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.
