OrBit Raises $4.6m From Matrixport, Brevan Howard Digital to Develop Exotic Options and Structured Products in Digital Assets
Summary
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 Banks 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.The funding will be used to accelerate the development of the companys proprietary technologies, while enabling it to expand its business footprint. Founded by a strong team of leaders in trading and computer science, and backed by Matrixport and Brevan Howard Digital, OrBit brings its expert know-how in options to the crypto market. For more information, visit www.orbitmarkets.io.Matrixport is one of the worlds largest and most trusted digital assets financial services ecosystem and forges strategic collaborations with early stage Web3 innovators, helping them build, grow and scale. In 2021, the number of investors using its app increased by 427%, 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.