Singapore based digital asset custody solutions provider Onchain Custodian announced a partnership with Babel Finance to enhance the asset management service institutions and private wealth clients on its platform. As part of the partnership, Babel Finance will allow Onchain’s institutional and individual clients to access financial instruments in the token economy.
@BabelFinance is partnering with @oncustodian to enhance the asset management service targeting institutions & private wealth clients, on Onchain Custodian’s custody platform.#digitalassets #openfinance #blockchain #cryptocurrency #absolutesafehttps://t.co/5zftymuXLt
— Onchain Custodian (@oncustodian) August 17, 2020
In a Medium post, Babel Finance said that Onchain Custodian has been providing enterprise custody solutions to its clients, including Babel, and other DeFi services like crypto borrowing and crypto lending. Based in Hong Kong, Babel Finance, formerly known as Babel Bank, is one of the largest commercial DeFi institutions in the country. Apart from this, the partnership will allow the crypto finance platform to roll out its crypto-based products on Onchain’s platform.
Commenting on their collaboration with Onchain, Yulong Liu, Babel Finance’s Head of Global Partnerships, said that the joint initiative would help them target the growing demand for crypto and DeFi in the ASEAN region. He added,
Onchain offers a suite of resilient and compliant custody solutions globally, to safeguard institutional digital assets while also providing great user experience. Babel Finance, on the other hand, is one of the leading global decentralized crypto finance companies, catering to high net-worth individuals and institutional clients around the world.