BABB

What BABB does

BABB is a UK-based fintech that operates a mobile-first hybrid banking platform combining FCA-regulated GBP e-money accounts with cryptocurrency services. The company targets unbanked and underbanked individuals, cryptocurrency users seeking fiat on-ramps and off-ramps, and migrant workers needing low-cost cross-border remittances. Through its Babb mobile app (available on iOS and Android), users access a single Hybrid Money Account that holds GBP fiat, the BAX native token, and Currency X stablecoins (GBPx and USDx; the RIALx stablecoin was retired in September 2023). The platform operates through three England-and-Wales-incorporated entities: BABB Group Limited (parent), Babb Remit Limited (FCA-registered Small Electronic Money Institution, FRN 932609), and Regulated Decentralised Finance Ltd (FCA-registered cryptoasset firm, RRN 849446), headquartered at Level 39, One Canada Square, Canary Wharf, London.

BABB's technical architecture rests on two proprietary components: the ReDeFi Layer-1 blockchain, introduced in October 2023 with a Proof-of-Stake-Consensus (PoS-C) mechanism and built-in compliance features, and the BAX token, an Ethereum-based ERC-20 asset that powers the platform's P2P payment economy. Currency X is a trademarked bundle of stablecoins enabling seamless fiat-crypto conversions within the app. BABB also introduced a BABB Card in August 2023 but discontinued physical card development in March 2024 in favor of a digital-only model. Additional offerings include Campaign Wallets for crypto-based fundraising and mirrored on-chain GBP accounts announced for January 2026.

BABB pursues a direct-to-consumer, product-led growth model distributed exclusively through the Apple App Store and Google Play. Revenue is transaction-based, derived primarily from exchange rate markups on crypto conversions (up to 1.99%) and CurrencyX conversions (up to 1.49%), 0.99% CurrencyX-to-fiat withdrawal fees, and FX fees on non-UK deposits; UK GBP deposits and internal transfers are free. The BAX token is distributed through exchange partnerships with MEXC, KUCOIN, CoinDCX, and BitMart. The company has raised approximately $21.8M in disclosed funding (largely in 2018), has 11–50 employees, and is privately held. In January 2026, founder Rushd Averroës was succeeded as CEO by Kenneth Kinsella, signaling a pivot toward scaling the on-chain banking ecosystem for traditional financial institutions.

Name

BABB

Legal name

BABB Group Limited

Website

https://getbabb.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

BABB is a UK fintech combining FCA-regulated GBP e-money accounts with cryptocurrency services in a mobile-first hybrid banking app. It serves unbanked and crypto-curious consumers globally through Currency X stablecoins, the BAX token, and its proprietary ReDeFi Layer-1 blockchain.

Ownership category

akta.pro rank

Product category

Neobanking

NAICS

Depository Credit Intermediation (5221)

SIC

Finance Services (6199)

akta.pro primary industry

Enterprise Payments & Tokenized Money (stablecoins, tokenized deposits, CBDC rails) (FSAPAIAJ)

akta.pro secondary industries

Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE), Crypto Payment Gateways & Checkout APIs (FSADAIAA)

Keywords

• Neobank platform
• Cryptocurrency wallet
• Stablecoin payments
• Digital banking
• Blockchain finance

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Currency Conversion and Exchange Rate Markups: The primary revenue stream comes from exchange rate markups applied to crypto-to-crypto and fiat-to-crypto conversions. Up to 1.99% markup for crypto conversions (crypto to crypto pairs) and up to 1.49% markup for CurrencyX stablecoin conversions, depending on market conditions and volatility.
2. Withdrawal Fees: CurrencyX to fiat withdrawals incur a 0.99% fee in the form of bank account transfer. External wallet withdrawals incur gas/network fees. Internal transfers between Babb wallets are free.
3. FX Conversion Fees: Non-UK deposits or non-GBP deposits into Babb e-money wallets are subject to FX conversion fees. This applies when users deposit foreign currencies that need conversion.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

Core offering

BABB operates a hybrid financial platform that combines FCA-regulated electronic money (e-money) accounts with cryptocurrency capabilities. Through its mobile app, users can open a GBP e-money account, hold and transact the BAX native token, and use Currency X stablecoins (GBPx, USDx) to instantly swap between fiat and crypto. The company is developing the ReDeFi Layer 1 blockchain to provide compliance-friendly on-chain banking infrastructure for traditional financial institutions.

Product overview

BABB is a UK-based fintech offering a hybrid financial platform that combines traditional fiat banking with cryptocurrency services. The core product is the Babb App, which provides a Hybrid Money Account enabling users to manage GBP fiat currency alongside crypto assets. The ecosystem includes the BAX native token on Ethereum, Currency X stablecoins (GBPx, USDx, RIALx) for seamless P2P transfers, Campaign Wallets for fundraising, and the ReDeFi Layer-1 blockchain infrastructure powering compliance-friendly on-chain finance.

Differentiator

Problem solved

Functional benefit

Brands

• Currency X: A bundle of stablecoins (GBPx, USDx, RIALx) that keeps money steady and tied to real-world currencies, enabling seamless P2P transfers and exchanges.
• BAX
• ReDeFi

Products and services

• Babb App Mobile application available on iOS and Android that provides a unified Hybrid Money Account where users can hold GBP fiat currency alongside cryptocurrency assets, send/receive funds, and convert between fiat and crypto.
• GBP Account FCA-regulated electronic money account denominated in British Pounds, with deposits safeguarded in segregated accounts as e-money. Functions like a standard bank account with crypto conversion capability.
• BAX Token BABB's native ERC-20 token on the Ethereum network that enables borderless payments worldwide, powers the platform's financial services ecosystem, and can be used to pay, shop, and access services within the global Babb community.
• Currency X Stablecoins Trademarked bundle of stablecoins (GBPx pegged to GBP, USDx pegged to USD, originally including RIALx for Yemen) that enables seamless P2P transfers and instant swaps between fiat currencies and crypto within the Babb ecosystem.
• ReDeFi Layer-1 Blockchain Proprietary Layer 1 blockchain infrastructure using PoS-C consensus with built-in compliance features, designed to merge traditional regulated finance with blockchain technology and support mirrored on-chain GBP accounts for financial institutions.
• Campaign Wallets Cryptocurrency wallets designed for fundraising campaigns, allowing donors to contribute in crypto with automatic conversion to BAX, supporting both public and private fundraising initiatives.

Quantifiable outcome

• GBP deposits safeguarded under e-money regulations with segregated accounts
• +1 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Partnerships

Five partnerships are on record, tiered core and notable.

• MEXCcoreChannel Partner/ Reseller/ DistributorOfficial exchange partner for BAX token trading. BAX is listed on MEXC Global Exchange, ranked as the fifth largest cryptocurrency exchange according to Coin Gecko. This partnership is part of efforts to boost BAX token liquidity and support upcoming milestones.
• KUCOINcoreChannel Partner/ Reseller/ DistributorOfficial exchange partner for BAX/USDT trading pair. KUCOIN provides BAX token accessibility to its global user base as one of the major cryptocurrency exchanges.
• CoinDCXcoreChannel Partner/ Reseller/ DistributorOfficial exchange partner enabling Indian users to trade BAXINR pairs. Provides BAX token accessibility for the Indian market through CoinDCX platform.
• BitMartcoreChannel Partner/ Reseller/ DistributorOfficial exchange partner for BAX/USDT trading pair. BitMart provides additional trading venue for BAX token as part of the multi-exchange distribution strategy.
• Web Summit QatarnotableStrategic or Co-development PartnerSelected for the ALPHA startup program at Web Summit Qatar 2024, recognizing ReDeFi's innovative approach. BABB (ReDeFi) was among the elite few standout projects selected, following successful presence at WebSummit Lisbon.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Binance: Global crypto exchange offering fiat on/off-ramps, stablecoins and P2P transfers in a mobile app. Competes with BABB on crypto-to-fiat conversion and global P2P payments, though without a UK EMI licence.
• Coinbase: Largest US-listed crypto exchange with consumer wallet, custody and stablecoin services. Operates broadly in the same crypto-fiat bridge category but at vastly larger scale, with US regulatory licences rather than UK EMI + cryptoasset firm.
• Monzo: UK digital challenger bank offering current accounts and consumer payments. Same UK-licensed banking footprint and mobile-first distribution; lacks native crypto but otherwise the most relevant mainstream incumbent.
• PayPal: Global consumer payments platform with its own stablecoin (PYUSD), crypto buying/selling and digital wallet. Adjacent incumbent competing for the same hybrid fiat-crypto consumer use case at much greater scale.

Direct peers

• Revolut: UK-headquartered neobank offering multi-currency accounts, crypto trading and stablecoin features in a single mobile app. Directly comparable hybrid fiat + crypto proposition aimed at retail customers globally, but at vastly greater scale and with a banking licence in some markets.
• Wirex: Crypto-enabled payments platform with a multi-currency fiat account, crypto wallet and debit card. Closely mirrors BABB's hybrid TradFi/DeFi account model, though Wirex is more mature in card issuance and WXT token ecosystem.
• Crypto.com: Major crypto exchange and payment app offering fiat on/off-ramps, stablecoins, Visa card and a native token (CRO). Comparable hybrid banking + crypto offering with a global mobile-first distribution model similar to BABB's.
• Ziglu: UK FCA-regulated electronic money institution combining a GBP current account with crypto trading and tokenised assets. Closest direct UK peer by regulatory profile and hybrid product set.
• Uphold: Multi-asset platform enabling trading and holding of fiat, crypto and stablecoins in a single account. Comparable unified fiat-crypto account experience and tokenized-money directionality.

Emerging players

• Luno: Crypto exchange and wallet with strong emerging-markets presence (Africa, Southeast Asia). Overlaps with BABB on financial-inclusion mission and crypto-fiat on-ramp, though without a UK EMI layer or tokenized-deposit product.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/getbabb
• LinkedInlinkedin.com/company/getbabb

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries2 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BABB