Babel Finance, a Hong Kong-based crypto lending and asset management firm, announced it will be opening a business headquarters in Singapore. According to a press release published on 16 September, the new entity will be called Babel Asia and have Shanshan Yu serve as the CEO.
The new office will help the company become a global crypto player thanks to its strategic position in the region. Babel Asia will serve traditional financial institutions and high-net-worth individuals around the world, acting as a bridge between mainstream investors and the crypto industry.
Flex Yang, CEO of Babel Finance, said that Singapore’s dependable legal system, prestigious wealth management industry, and pioneering approach to crypto regulation made it an excellent launchpad for a business headquarters. The location will also help advance the company’s regulatory compliance effort, he explained in the release:
“In particular, regulators in Singapore are known for being tough on money laundering, so being fully compliant in this market will further the appeal of crypto assets among traditional investors. Babel Asia, led by Yu, will strengthen our ability to serve global investors seeking to diversify their portfolios, by offering world-class services from Singapore.”
Babel Asia will apply for all relevant regulatory licenses in Singapore and use the office as a base for all future merger and acquisition activities, the company said.