ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

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.

The series A fundraising was led by New York-based Tiger Global Management, Sequoia Capital China, Sequoia-affiliated Dragonfly Capital, German media conglomerate Bertelsmann and its Asia-focused investment arm BAI Capital, as well as Zoo Capital, the early-stage venture fund of Chinese private equity firm Boyu Capital.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more