Flex Yang is a financial technology entrepreneur best known as the co-founder and Chief Executive Officer of Babel Finance, a Hong Kong-based cryptocurrency financial services provider, founder of usdx.money, a stablecoin powered by Stable Labs. ^[1]

Education

Yang pursued higher education in both China and Australia, building a foundation in economics and finance. He completed his undergraduate studies at the prestigious Peking University in Beijing. Following this, he attended the University of Sydney in Australia, where he earned a Master of Economics degree. His academic background provided him with the theoretical framework for his later career in both traditional and decentralized finance. ^[2]

Career & Experience

Yang began his professional career in the traditional finance sector, gaining experience in auditing and investment banking. From September 2011 to May 2015, he worked as a Senior Associate at PricewaterhouseCoopers (PwC), S.C. in Hong Kong, one of the "Big Four" accounting firms. Between July 2015 and May 2018, Yang was the founder of Standard Financial Inclusion in Beijing, a company created to provide banking services to entrepreneurs underserved by traditional financial institutions. In addition, from January 2011 to June 2013, he was self-employed as a bond derivatives trader in Hong Kong, focusing on U.S. Treasury curve strategy trading. ^[3]

In 2018, Yang co-founded Babel Finance alongside Del Wang and held the role of Chief Executive Officer until October 2021. Babel Finance experienced a period of substantial growth between 2019 and early 2022 and the company successfully catered to crypto miners, exchanges, and investment funds that required liquidity and yield-generating products. A major milestone in Yang's tenure as CEO occurred in May 2022, when Babel Finance announced the completion of an $80 million Series B funding round. This investment round was led by major venture capital firms, including Jeneration Capital and 10T Holdings, and included participation from existing investors like Dragonfly Capital and Circle Ventures. They identified a growing demand from institutional investors and high-net-worth individuals for sophisticated financial services tailored to the nascent cryptocurrency market. The firm was established to bridge the gap between traditional finance and digital assets, offering services that were familiar to institutional clients but applied to crypto. ^[4]

From January 2023 to November 2024, he was the founder of HOPE in Hong Kong SAR. And in October 2024 Yang then founded Stables Labs and has served as founder since. ^{[2] [5]}

Babel Finance Restructuring

In July 2022, reports emerged that Babel Finance was undergoing a restructuring process. According to a restructuring proposal deck, the company had incurred losses of over $280 million from proprietary trading activities that utilized customer funds. ^[6]