Singapore-based OrBit Markets, a company dealing with institutional liquidity and a provider of crypto options and structured products, has raised $4.6M in an angel investment funding round ushered by Matrixport, a digital assets financial services ecosystem, with participation from firms such as Brevan Howard Digital, New Form Capital, Maven 11 and Westridge Markets in this oversubscribed round of funding. “Brevan Howard Digital is excited to partner with OrBit and their highly experienced team as they bring exotic structured products to the nascent crypto derivatives market,” they tweeted.
“As the environment continues to mature and institutionalize, we see a unique opportunity to bring our business and product know-how to the digital assets market. Through the backing of our prominent and diverse investors, we will use the funds to scale our client base and product offerings,” says Caroline Mauron, CEO and co-founder of OrBit.
“Matrixport is a pioneer in bringing to the market new structured products as part of its crypto asset management offerings. As a strategic partner, OrBit’s deep domain expertise in quantitative finance will enable us to continue to drive innovation and accelerate adoption of digital assets,” says John Ge, co-founder and CEO of Matrixport.
“Brevan Howard Digital is excited to partner with OrBit and their highly experienced team as they bring exotic structured products to the nascent crypto derivatives market,” says Colleen Sullivan, co-head of venture investments at Brevan Howard Digital.
As the digital assets market develops, more investors and Defi users are analysing advanced options strategies for investment and yield improvement, but few market makers are able to deliver liquidity in these complex products. Even in orthodox finance, such capabilities are concentrated in the hands of a few global investment banks. OrBit aims to bridge this void by bringing decades of derivatives expertise to the crypto market. The funding will be used to amp up the development of the company’s proprietary technologies while allowing it to expand its business footprint.