Babel Finance Appoints New Head of Treasury as Crypto Lending Business Grows

Crypto financial services provider Babel Finance has appointed Yang Song as head of treasury, a newly created role as the company expands the reach of its services to more diverse client groups.

Song joins Babel Finance from Commerzbank, where he spent 12 years, most recently as vice president of treasury.

Song’s tenure at Commerzbank positions him well to support Babel Finance as it expands its crypto lending business.

He spent four years at Commerzbank’s Singapore branch managing SGD, three years at Commerzbank’s Frankfurt headquarters managing EUR and the last five years at the bank’s Hong Kong branch, building its CNH business. (offshore RMB) and in HKD.

Yang Song, along with his growing team of new hires, will structure Babel Finance’s internal treasury systems and processes.

“We see our clients’ interests expanding into more cryptocurrencies, including altcoins. Strong management is key to serving such sophisticated clients,” said Del Wang, Founder of Babel Finance.

“This hire is a proactive step in strengthening our risk management, supporting the continued expansion of our client services.”

Babel Finance had an outstanding loan balance equivalent to $3 billion at the end of 2021. The firm’s lending and trading volume is now focused on BTC, ETFs, USDC and USDT, a basket comparable to currencies in the G3 in terms of fiduciary cash.

By early 2022, demand for altcoins from institutions and high net worth individuals had increased significantly, and Babel Finance is expanding its services to meet these needs.

“As an emerging asset class, crypto assets have the potential to absorb excess fiat liquidity in the same way, if not better, than real estate, commodities and other financial derivatives did before,” Song said.

“Better integration of crypto-finance into the broader financial ecosystem could therefore be the best way to offset the high levels of inflation we are seeing emerging globally. I am delighted to join Babel, which is at the forefront of this developing trend.

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