{"id":63172,"date":"2022-06-20T16:35:26","date_gmt":"2022-06-20T13:35:26","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=63172"},"modified":"2025-09-05T22:30:09","modified_gmt":"2025-09-05T19:30:09","slug":"one-of-asias-largest-crypto-lenders-babel-finance-agrees-to-repay-part-of-its-debts","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/one-of-asias-largest-crypto-lenders-babel-finance-agrees-to-repay-part-of-its-debts\/","title":{"rendered":"One of Asia&#8217;s largest crypto lenders Babel Finance agrees to repay part of its debts"},"content":{"rendered":"<p>A crypto-financial services provider Babel Finance reached &#8220;preliminary agreements&#8221; with major counterparties &#8220;on the repayment terms of some debts&#8221;. <a href=\"https:\/\/www.theblock.co\/post\/153067\/babel-finance-steps-crypto-liquidity-situation\">The Block reports.<\/a><\/p>\n<p>According to representatives of the company, they urgently assessed the liquidity of their business operations.<\/p>\n<blockquote class=\"wp-block-quote is-style-plain is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The preliminary agreements on the repayment timelines for some debts with major counterparties and clients have eased near-term liquidity pressures,&#8221; Babel Finance said.<\/p>\n<\/blockquote>\n<p>The team also denied reports of insolvency that purportedly reached the lender&#8217;s partners.<\/p>\n<p>However, the improvement in the situation does not mean withdrawals will resume. The company will continue to engage with shareholders and potential investors to support liquidity.<\/p>\n<p>Founded in 2018 in Hong Kong, Babel Finance is one of the largest crypto lenders and asset managers in the Asia-Pacific region.<\/p>\n<p>In May 2022 the provider closed a Series B funding round <a href=\"https:\/\/u1f987.com\/en\/news\/babel-finance-raises-80-million-at-a-2-billion-valuation\">at $80 million with a valuation of $2 billion<\/a>. Leading investors were Jeneration Capital and 10T Holdings with participation from Circle Ventures, a number of Southeast Asian family offices, and existing shareholders Dragonfly Capital and BAI Capital.<\/p>\n<p>Last week Babel Finance said <a href=\"https:\/\/u1f987.com\/en\/news\/babel-finance-one-of-asias-largest-crypto-lenders-suspends-withdrawals-and-payments\">that it had paused payments and withdrawals<\/a> from its own products due to liquidity shortages.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 crypto news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A crypto-financial services provider Babel Finance reached &#8220;preliminary agreements&#8221; with major counterparties &#8220;on the repayment terms of some debts&#8221;.<\/p>\n","protected":false},"author":1,"featured_media":63173,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[2314,1269,1097],"class_list":["post-63172","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-babel-finance","tag-cryptocurrencies","tag-lending"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63172","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=63172"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63172\/revisions"}],"predecessor-version":[{"id":63174,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63172\/revisions\/63174"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/63173"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=63172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=63172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=63172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}