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Global investment firms make debut in Asian cryptocurrency market

Hong Kong's Babel Finance raises $40m amid growing demand for digital money

Babel Finance of Hong Kong is among the largest crypto derivative players globally, with monthly trading volume of $8 billion in equivalent digital currency. (Photo by Ken Kobayashi)

HONG KONG -- Hong Kong-based crypto financial-services startup Babel Finance has raised $40 million in a new funding round that marks the first crypto deal in Asia for several global investment firms, underscoring increasing investor appetite in the region for the fast-growing digital-currency market.

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