Babel Finance Agrees to Pay Off Part of its Debts

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Cryptocurrency financial services provider Babel Finance has reached “preliminary agreements” with major counterparties “on the maturities of certain debts.”

According to company representatives, they have urgently assessed the liquidity of their business operations.

Babel Finance has said:

“Preliminary maturity agreements for certain debts with key counterparties and clients have eased near-term liquidity pressures.”

The company team has also taken the opportunity to deny reports of insolvency allegedly received by the partners of the crypto lender.

However, the improvement of the situation does not mean the withdrawal of funds will be restored. The company will continue to communicate with shareholders and potential investors to support liquidity.

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