Babel Finance joins Onchain Custodian to offer bespoke Asset Management Services
SINGAPORE — August 17, 2020
Babel Finance is partnering with Onchain Custodian to enhance the asset management service targeting institutions, private wealth clients, on Onchain Custodian’s custody platform.
Onchain Custodian (“ONC”) has been providing an enterprise-grade custody solution to its clients including Babel Finance, since April 2019. In addition, Onchain Custodian provides ancillary services such as crypto borrowing and lending, ramp on and off between crypto and fiat, OTC and escrow. ONC now allow their clients to subscribe directly to asset management products. Through this new partnership, Babel Finance becomes the latest to join Onchain Custodian’s curated list of asset managers to deliver asset management products via ONC’s platform.
This service allows clients to generate returns on their crypto assets, by deploying them through asset managers. In addition to standard products from asset managers, Onchain Custodian adopts a private banking approach, with the ability to tailor asset management products for each individual clients risk appetite. Upon settlement, investment and profits are returned to the client’s wallet with Onchain Custodian for safekeeping, where assets are secured and insured.
Hong Kong-based Babel Finance, formerly known as Babel Bank and one of the largest commercial crypto finance institutions, has picked Onchain Custodian, a Singapore-based digital assets custody service provider, to roll out its crypto product offering. Babel Finance’s offering on Onchain Custodian’s platform means that Onchain Custodian’s customers can easily transfer their crypto assets to Babel Finance to generate interest through pledged loans, whilst benefiting from the safety and convenience of custodian wallets when the crypto assets are not deployed. With this strategic partnership, Babel Finance will further strengthen its crypto custodian offering as the company continues to grow and expand into Southeast Asia.
“The collaboration with Babel Finance will grant our institutional clients and investors access to financial instruments in the token economy. This partnership is part of a strategic move to build an ecosystem of partners working with Onchain Custodian for the benefit of our customers,” said El, COO of Onchain Custodian.
Babel Finance’s outstanding loan reached $380 million in the first quarter of 2020. To help better serve the increasing market interest, Babel Finance will further strengthen its platform by partnering with Onchain Custodian for continuing financial innovation. Together, both firms will enable a safe and reliable infrastructure for integrated crypto banking, finance and management solutions.
“ Babel Finance is excited for this partnership with Onchain Custodian. We believe this joint initiative will help us target the burgeoning demand for crypto allocation across the ASEAN region and provide a comprehensive suite of solutions for both existing and potential crypto investors. Babel Finance would continue to devote resources to bring in financial innovation that was widely adopted by Wall Street with the strong support to ensure safety from top-notch infrastructure provider like Onchain Custodian. “ said Yulong Liu, head of global partnerships at Babel Finance.
About Onchain Custodian
Headquartered in Singapore, Onchain Custodian offers a global, standardised, resilient, insured and compliant custody service for the safekeeping of institutional digital asset investments with incomparable user experience. Onchain Custodian ‘s solution is built with flexibility to meet the possible futures of crypto custody. Best practices around digital asset custody are essential to the future of this industry. Onchain Custodian is committed to working with customers and partners to build the global standard for digital asset custody.
For more information, visit https://www.oncustodian.com
About Babel Finance:
Babel Finance is a leading global cryptocurrency financial institution dedicated to serving high-net-worth individuals and institutional clients worldwide with professional crypto-asset financial services, including cryptocurrency lending and borrowing, asset management, prime services, private bank, and mining services. Headquartered in Hong Kong, Babel Finance has established an extensive global cooperation network with major exchanges, custodians, lending and trading platforms, and mining institutions. By offering an easy, smooth and secure experience, we’re building a solid crypto-financial infrastructure for the world.
For more information, visit https://www.babel.finance/ and follow us on Twitter and Telegram.
Originally published at https://medium.com on August 17, 2020.