Babel Finance recently announced the completion of a $40 million Series A financing round. This comes when financial institutions, especially venture capital firms, are looking for opportunities to invest in the hottest cryptocurrency finance firms.
Zoo Capital, Sequoia Capital China, Dragonfly Capital, BAI Capital, Bertelsmann, and Tiger Global Management were among the venture capital firms that participated in the round, as other investors had previously invested.
Flex Yang, the CEO of Babel Finance, shared his thoughts on the round of funding:
With an $8 billion monthly trading volume and about 500 institutional clients on its books, Babel Finance is one of the largest cryptocurrency derivatives traders in the sector. The company’s rapid growth and success are two reasons it has attracted such a high caliber of investors worldwide.
Del Wang, the co-founder of Babel Finance, says:
Given the size of the cryptocurrency market, the Babel Finance team has agreed to focus its efforts on global enforcement. It aims to lead the way of cryptocurrency enforcement, so it’s applying for licenses in jurisdictions across North America, Europe, and Asia.
Dragonfly Capital’s Managing Partner, Bo Feng, is one of the series’ newest investors. According to a funding round,