MatrixPort leads $4.6 million funding round for OrBit Markets

Hedge fund Brevan Howard, which recently launched its own digital assets division, was among the participants involved in the fundraising.

Crypto options and structured products liquidity provider OrBit Markets has raised $4.6 million in an angel funding round led by digital assets financial services ecosystem Matrixport.

Brevan Howard Digital, which launched late last year, as well as New Form Capital, Maven 11 and Westridge Markets, were among the participants in the oversubscribed round.

OrBit, which was founded this year by former leaders of Deutsche Bank’s currency division, utilises quantitative models and risk engines to provide liquidity across the entire spectrum of option products.

The firm has partnered with CeFi platform and DeFi protocols to launch a range of products to meet increased demand for safer investing and hedging solutions following recent market turmoil.

The funding will be used to accelerate the development of the firm’s proprietary technologies and to aid in the expansion of its business footprint.

“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,” said Caroline Mauron, chief executive and co-founder of OrBit.

“Through the backing of our prominent and diverse investors, we will use the funds to scale our client base and product offerings.”