BabelFinance makes predictions in reference to the Crypto
BabelFinance, based in Beijing that previously did business as BabelBank, has issued a statement in which it affirms that loans backed by cryptocurrencies are booming. Since its opening in 2018, BabelFinance has generated more than $ 124 million in crypto-backed loans. According to a company note, BabelFinance expects to reach $ 1 billion in loans issued at the end of the next crypt bull run.
BabelFinance is regulated in Hong Kong with a ‘small Internet loan license in China and a commercial lender license in Hong Kong through business partners’.
BabelFinance says it is also working hard to achieve cooperation with a Chinese commercial bank.
Babel Finance offers services for investors in crypts, cryptocurrency miners and cryptography institutions. It provides loans in stable currencies, guaranteed by Bitcoin deposits and expects to soon include the Ethereum, Litecoin, BCH, XRP and Stellar currencies. Users can also transfer their crypto assets to BabelFinance and generate interest through loans.
BabelFinance has partnered with F2Pool, Poolin, Cobo, Onchain, Genesis Capital, Altonomy, OSL, and says it is adding many more partners this month.
Interest in the service is being driven by Chinese speculators, says BabelFinance, which is interesting since the cryptocurrency market is very controlled in the Asian country.
Babel Finance says it is improving its services to offer holders, loans backed by cryptocurrencies, hedging tools, cryptocurrency deposits that generate interest, recurring investment plans and ‘Babel Triple’, a low-cost, easy-to-use margin operator. use that grants up to triple leverage.
Institutional partners will have access to large OTC transactions.
In recent months, we have seen a dramatic increase in speculative loans from consumers and institutions. It is clear that in China and in other parts of the world, anticipation is being built for higher cryptocurrency prices. Said Flex Yang, founder and CEO of BabelFinance.
Investors in Babel Finance include ZhenFund, Ligthspeed China Partners and NEO Global Capital.
Yang believes that the cryptocurrency has increased again and in this regard has indicated the need for tools to support widespread adoption and ensure institutions liquid funds to continue accelerating the development of their projects.
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.