Crypto-financial services provider Babel Finance claims to have reached certain “preliminary agreements” with “major” and “relevant” players on the repayment period of “some debts” – easing its short-term liquidity pressure.
Per today’s notice by the company,
“We have communicated with major counterparties and relevant customers, and reached preliminary agreements on the repayment period of some debts, which has eased the company's short-term liquidity pressure.”
As for the other steps the Babel Finance management has taken to “alleviate the company's liquidity situation,” the notice states that:
the company has performed an emergency assessment of its business operations to understand its liquidity status;
it communicated with shareholders and potential investors, and says it will “continue to communicate and obtain liquidity support.”
The firm concluded by saying that,
Babel Finance will actively fulfill its legal responsibilities to customers and strive to avoid further...
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