Hong Kong-based Babel Finance said on Wednesday it had raised $80 million in a new funding round that valued the cryptocurrency lender and asset manager at $2 billion.
Babel, whose major businesses are crypto lending and trading, limits itself to bitcoin, ethereum and stablecoins, it said. The firm has a clientele of 500 customers and had ended last year with $3 billion of loan balances on its balance sheet. The firm said it has applied for business licenses in Hong Kong, Luxembourg and the United Kingdom, among others.