Babel Finance Appoints Yang Song as Head of Treasury as Crypto Lending Business Grows

New Treasury Unit to Strengthen Company’s Crypto Lending Business and Innovate Client Services

HONG KONG, April 24, 2022 /PRNewswire/ — Babel Finance announced that he has appointed Song Yang as head of treasury, a newly created position as the company continues to expand the scope of its services to more diverse customer groups. With from Asia largest crypto loan portfolio, Babel Finance has created a treasury unit to strengthen its risk management and ensure sufficient liquidity for its credit activity. Yang joins Babel Finance after 12 years with major German bank Commerzbank, where he was vice president of the Treasury.

Yang Song his tenure at Commerzbank positions him well to support Babel Finance’s growing crypto lending business. He spent four years at Commerzbank Singapore branch managing SGD, three years at Commerzbank headquarters in Frankfurt managing the EUR – the biggest risk and exposure for the bank – and most recently five years at the bank’s headquarters hong kong subsidiary developing its activities in CNH (offshore RMB) and in HKD.

With his extended team of new recruits, Song Yang structure Babel Finance’s internal treasury systems and processes. These efforts laid the foundation for optimizing cash flow and funding costs, ensuring sufficient liquidity across the company’s expanding lending and trading activities, mitigating risk in various cryptocurrencies. and regions, and innovate in the company’s product and customer service mix.

“We are delighted to welcome Song Yang to the Babel team to play a vital role in leading the development of more sophisticated practices within crypto lending services and products,” said Del Wang, co-founder of Babel Finance. “We see our clients’ interests expanding into more cryptocurrencies, including altcoins. Strong management is key to serving such sophisticated clients. This hire is a proactive step in strengthening our risk management, supporting the continued expansion of our customer services.”

At the end of 2021, Babel Finance had a 3 billion US dollars equivalent outstanding loan balance. The company’s lending and transaction volume is currently focused on BTC, ETH, USDC, and USDT, a basket comparable to G3 currencies in terms of fiat cash. But at the start of 2022, the demand for altcoins among institutions and HNWIs has 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,” said Song Yang, head of treasury at Babel Finance. “Better integration of crypto-finance into the wider 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.”

About Babel Finance

Babel Finance is one of the world’s leading providers of crypto financial services, offering institutional investors and HNWIs professional services covering crypto lending and crypto trading. The company is backed by leading investors including Sequoia Capital China, Tiger Global Management, BAI Capital, Zoo Capital, Dragonfly Capital and NGC Ventures. With a commercial focus on Asia and a head office at SingaporeBabel Finance has established close cooperative relationships with major global stock exchanges, custodians, investment funds and mining institutions.

Contact: [email protected]

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SOURCE Babel Finance

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