OrBit Markets, an institutional liquidity provider in crypto options and structured products, has raised US$4.6 million in an angel funding round led by Matrixport, a digital assets financial services ecosystem.
The oversubscribed round also witnessed participation from Brevan Howard Digital, New Form Capital, Maven 11 and Westridge Markets.
OrBit said that the funding will be used to accelerate the development of the company’s proprietary technologies, while enabling it to expand its business footprint.
Founded this year by a team of former senior executives at Deutsche Bank’s currency division, OrBit has built quantitative models and risk engines which allow it to provide liquidity across the entire spectrum of option products.
In partnership with other CeFi platforms and DeFi protocols, OrBit has launched a number of innovative products addressing growing demand for safer investing and hedging solutions following the recent market turmoil.
Caroline Mauron
“As the environment continues to mature and institutionalise, 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.”
said Caroline Mauron, CEO and Co-founder of OrBit.
John Ge
“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,”
said John Ge, Co-founder and CEO of Matrixport.
