Crypto Asset Management Firm Babel Finance Leads US$2 Million Funding Round for Custonomy to Develop MPC Crypto Asset Custody Solutions | Taiwan News

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HONG KONG SAR – Media outreach – March 1, 2022 – Custonomy, an award-winning digital asset custodial services company, has completed a US$2 million seed round. Crypto asset management firm Babel Finance, a leading global provider of crypto financial services, led the seed funding round.

Custonomy’s next phase of expansion will be fueled by seed capital. The funds will be used to develop the company’s revolutionary, institutional-grade and ultra-secure enterprise management systems for managing crypto assets using Multi-Party Computing (MPC) technology. The focus will be on assisting businesses by providing the best security solutions to protect crypto assets against IT theft.

Custonomy was founded in April 2020 as a startup company in response to a growing need from investors and asset owners to secure their crypto assets against internet theft. More and more companies and institutions have become involved in the crypto asset market in recent years, allowing their clients to hold and invest in cryptocurrencies. The Babel Finance crypto team sees the growing desire among investors to own and trade these assets and are aware that asset security threats are a serious concern for investors.

Keith Hung, CEO and co-founder of Custonomy, commented on the closing of the seed fund: “Custonomy’s mission is to be the cornerstone and go-to solution provider for businesses looking to get involved in crypto. We are thrilled to close this seed funding round and now look forward to focusing our team’s collective efforts on being the #1 cryptocurrency custody solution provider in Asia.”

Custonomy’s goal is to improve the protection of companies’ digital assets. It offers ultra-secure custody solutions based on MPC technology that allow institutions to manage their digital assets in a secure and autonomous environment. Businesses have the opportunity to innovate with true value-added customer services using cryptography and math-based procedures. It also allows them to keep up with the rapidly changing market. Babel Finance’s crypto lending arm will be able to benefit from using Custonomy’s custody solutions.

Babel Finance’s CFO, Edmond Lau, commented from Babel Finance’s Hong Kong office, “We are very impressed with Custonomy’s technical capability, innovative solution and supreme execution power. “We are proud to support Customony in its quest to provide the best possible solution to institutional clients.”

Custonomy also revealed that its solutions are now available to all customers at scale. In 2022, with seed funding led by Babel Finance, Custonomy intends to improve its solutions so that companies can manage their NFT assets in a highly secure and user-friendly way.

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 business focus in Asia and a head office in Singapore, Babel Finance has established close cooperative relationships with major global stock exchanges, custodians, investment funds and mining institutions.

#BabelFinance

The issuer is solely responsible for the content of this announcement.

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