CoinDesk: Babel Finance was founded by a group of former hedge fund traders who view blockchain as a superior technology to better manage capital. Babel Finance, a crypto lender with plans to offer financial products for bitcoin investors, announced that its chief financial officer has ties to Citigroup and Foxconn. Crypto player "Babel Finance" has breached the US$100 million valuation barrier, raising the stock to approximately US$2bn. Language Extensions enumerates Babel as a single-trading crypto giving it the status of a unicorn.
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According to Babel Financial (formerly known as 40 20), it is a global leader in cryptocurrency finance with the three core businesses of crypto lending, crypto asset management, and crypto prime financing.