OrBit Raises $4.6M From Matrixport and Brevan Howard Digital to Develop Exotic Options and Structured Products in Digital Assets
SINGAPORE–(BUSINESS WIRE)–OrBit Markets, a provider of institutional liquidity in crypto options and structured products, has raised $4.6 million in an angel funding round led by Matrixport, a financial services ecosystem from leading digital assets, with participation from Brevan Howard Digital, New Form Capital, Maven 11 and Westridge Markets in this oversubscribed round.
As the digital asset market evolves, more DeFi investors and 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, these 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 executives from Deutsche Bank’s top-rated foreign exchange division, OrBit has built best-in-class quantitative models and risk engines that enable it to provide liquidity across the full spectrum of currency products. options, 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 responding to the growing demand for safer investment and hedging solutions following the recent market turmoil.
The funding will be used to accelerate the development of the company’s proprietary technologies, while allowing it to expand its commercial 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 asset market. With the support of our leading and diverse investors, we will use funds to expand our customer base and product offerings.” says Caroline Mauron, CEO and co-founder of OrBit.
“Matrixport is a pioneer in bringing new structured products to market as part of its crypto asset management offerings. As a strategic partner, OrBit’s deep expertise in quantitative finance will enable us to continue to drive innovation and accelerate the adoption of digital assets,” said John Ge, Co-Founder and CEO of Matrixport.
“Brevan Howard Digital is thrilled to partner with OrBit and its highly experienced team as they bring exotic structured products to the nascent crypto derivatives market,” said Colleen Sullivan, Co-Head of Venture Capital Investments at Brevan Howard Digital.
About OrBit Markets:
OrBit Markets is an institutional liquidity provider of exotic options and digital asset structured products. Founded by a strong team of trading and IT leaders, and backed by Matrixport and Brevan Howard Digital, OrBit brings expert options know-how to the crypto market. Singapore-based OrBit serves CeFi, DeFi and TradFi institutions looking for more sophisticated investment and hedging solutions in digital assets. For more information, visit www.orbitmarkets.io.
Matrixport is one of the largest and most trusted digital asset financial services ecosystems in the world. With $4 billion in actively managed digital assets, it provides one-stop crypto financial services to meet emerging needs for long-term wealth generation 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 full suite of market-leading crypto investment products. In 2021, the number of investors using its app grew 427%, year-over-year, and the fintech company achieved a pre-money unicorn valuation within two years of its inception.
Based in Singapore, Matrixport serves individuals as well as more than 500 institutions in Asia and Europe. The company holds licenses in Hong Kong and Switzerland. For more information, visit www.matrixport.com.
About Brevan Howard Digital
Brevan Howard Digital was launched in January 2022 and is the dedicated crypto and digital assets division of Brevan Howard, providing institutional investors with access to the wide range of diverse opportunities presented by the structural disruption and innovation of technology. blockchain.
Brevan Howard Digital combines Brevan Howard’s institutional governance, controls and risk management with native crypto markets expertise in investment and trading operations. We offer unlimited, alpha-focused and diversified exposure to the wide range of investment opportunities available in the digital asset ecosystem via a multi-manager, multi-strategy approach across private and public markets.
Brevan Howard Digital has over 60 team members and leverages Brevan Howard’s global footprint, operating from 8 of its 10 offices worldwide.