Chinese cryptocurrency financial services firm Babel Finance rides the mainstream wave with US$40mil Series A

From geek-only to institutional, cryptocurrencies are becoming mainstream. Babel Finance, a Hong Kong-based crypto financial services firm, has just raised US$40mil from Sequoia Capital China and Tiger Global Management. — SCMP

Officially banned in China in 2017, bitcoin and other cryptocurrencies are now making their way to mainstream acceptance with the help of Chinese-run start-up Babel Finance.

“Education [of investors on bitcoin] isn’t necessary any more,” said Flex Yang, founder and CEO of the Hong Kong-based cryptocurrency financial services firm, in an interview with the South China Morning Post. “The crypto market has evolved from geek-only to institutional and professional.”