OrBit bags $4.6M to accelerate tech development & expand its footprint

OrBit bags $4.6M to accelerate tech development & expand its footprint

OrBit Markets, an influential liquidity provider in crypto & structured products, has reportedly secured $4.6 million in a recently held angel funding round. As per sources, the round was headed by Matrixport, one of the leading digital assets financial services networks, with participation from Brevan Howard Digital, Maven 11, New Form Capital, and Westridge Markets.

The funds raised will be used to boost the development of the firm’s proprietary technologies while empowering it to enlarge its business footmark.

As the digital assets market is on the verge of evolving, more and more DeFi users and investors are looking forward to coming across innovative options strategies for yield enhancements and investments; however, only some market makers can offer liquidity in those complex products.

Surprisingly, even in traditional finance, only a few global investment banks are handling such capabilities. OrBit seeks to fill this gap by bringing decades of derivatives experience to the crypto market.

Established in 2022 by a team of ex-leaders of Deutsche Bank’s currency division, OrBit has built the best risk engines and quantitative models which empowers it to offer liquidity across the complete range of options products, including standard vanilla options to the most unique structures.

In the meantime, OrBit, in collaboration with the most recognized CeFi platforms & DeFi protocols, has introduced several pioneering products delivering the rising demand for better investing and hedging solutions amid the latest market turmoil.

While commenting on the move, Caroline Mauron, CEO and co-founder of OrBit, said that as this new environment is maturing and institutionalizing constantly, the firm spots a unique opportunity for bringing out the business and product know-how to the digital assets market.

With the support of renowned and varied investors, the firm will use these funds to target more audiences, upgrade its client base and enhance product offerings.

Source Credit - https://www.businesswire.com/news/home/20220731005004/en/OrBit-Raises-4.6m-From-Matrixport-Brevan-Howard-Digital-to-Develop-Exotic-Options-and-Structured-Products-in-Digital-Assets