HONG KONG — Babel Finance has named Eleven International as its PR agency of record, as the crypto finance services provider progresses with its restructuring process.

Eleven first started working with Babel Finance in 2020, when the company began expanding its crypto lending and trading business across Asia. Since that time, Eleven has supported Babel Finance as it grew to global prominence, as well as through the crises that hit the crypto industry in 2022. 

Babel Finance suspended withdrawals last year, after earlier being valued at US$2bn. The company has since tapped restructuring advisors amid 'liquidity pressures'.

Babel Finance’s founder and restructuring coordinator Flex Yang said, “For these past years Eleven International has provided invaluable assistance and guidance as we explored new business ventures and markets. We continue to depend on the team’s expertise and insight as we press ahead and maximize value for all stakeholders.”

Francis Bea, MD and founder of Eleven International will continue to oversee the account. Founded in 2017, Eleven focuses on Asia-Pacific consumer tech, crypto, and B2B startups aspiring to enter or scale their reputation in the USA and China.