OrBit Markets, a Singapore-based institutional liquidity provider in crypto options and structured products, said Sunday it has raised $4.6 million in an angel funding round led by Matrixport, a leading digital assets financial services ecosystem.
The company said in a statement that it also saw participation from Brevan Howard Digital, New Form Capital, Maven 11 and Westridge Markets in this oversubscribed round.
The funding will be used to accelerate the development of the company’s proprietary technologies, while enabling it to expand its business footprint.
“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.” said Caroline Mauron, Chief Executive Officer and Co-Founder of OrBit.
OrBit Markets is an institutional liquidity provider of exotic options and structured products in digital assets. The firm brings its expert know-how in options to the crypto market. Headquartered in Singapore, it serves institutions across CeFi, DeFi and TradFi looking for more sophisticated investing and hedging solutions in digital assets.
According to the statement, as the digital assets market evolves, more investors and DeFi users are exploring advanced options strategies for investment and yield enhancement, but few market makers are able to provide liquidity in these complex products. Even in traditional finance, such capabilities are concentrated in the hands of a few global investment banks. OrBit aims to bridge this gap by bringing decades of derivatives expertise to the crypto market.
Founded this year by a team of former leaders of Deutsche Bank’s top-rated currency division, OrBit has built best-in-class quantitative models and risk engines which allow it to provide liquidity across the entire spectrum of option products from basic vanilla options to the most exotic structures. In partnership with leading 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.
“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 Chief Executive Officer of Matrixport.
Matrixport is one of the world’s largest and most trusted digital assets financial services ecosystem and forges strategic collaborations with early stage Web3 innovators, helping them build, grow and scale. With $4 billion in digital assets actively managed, it provides one-stop crypto financial services to meet the emerging needs of generating long term wealth in digital assets. The company’s services include Cactus Custody, spot OTC, fixed income, structured products, lending as well as asset management.
With its mission to make crypto easy for everyone, Matrixport has a relentless focus on product innovation and offers a comprehensive suite of market leading crypto investment products. In 2021, the number of investors using its app increased by 427 percent, year-on-year, and the fintech company achieved pre-money unicorn valuation within two years after its inception.
Headquartered in Singapore, Matrixport serves individuals as well as over 500 institutions across Asia and Europe. The company holds licenses in Hong Kong and Switzerland.
“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,” said Colleen Sullivan, Co-Head of venture investments at Brevan Howard Digital.
Brevan Howard Digital launched in January 2022 and is the dedicated crypto and digital asset division of Brevan Howard, providing institutional investors access to the wide range of diverse opportunities presented by the structural disruption and innovation of blockchain technology.
The firm pairs the institutional governance, controls and risk management of Brevan Howard with expertise native to crypto markets across investing and business operations. It offers unconstrained, alpha-centric and diversified exposure to the wide range of investment opportunities available across the digital asset ecosystem via a multi-manager, multi-strategy approach across both private and public markets.
The firm has over 60 team members and leverages the global footprint of Brevan Howard, operating in eight of its ten office locations worldwide.