A digital asset financial services platform, Matrixport organized an angel investment round in which Singapore-based decentralized finance (DeFi) company OrBit Markets raised $4.6 million.
Brevan Howard Digital, New Form Capital, Maven 11, and Westridge Markets participated in the funding. OrBit Markets was created this year, and this is its first fundraising effort.
In order to develop crypto-based financial solutions, OrBit builds quantitative models and risk engines. The company has also introduced products to meet the rising need for safer investment and hedging options in light of recent market unrest. The business added in a statement that it also aims to address the dearth of market makers capable of offering liquidity for intricate DeFi products.
The financing will be used to expand the customer base and enhance the company’s product offerings, according to Caroline Mauron, CEO of OrBit and former co-head of foreign exchange for the Asia Pacific at Deutsche Bank.
The financial services platform will be able to access OrBit’s domain knowledge in quantitative finance through the strategic relationship, according to John Ge, co-founder and CEO of Matrixport, driving innovation and accelerating the adoption of digital assets.
The Singapore-based Matrixport company provides dual currency solutions, zero-cost loans, yield farming features, and savings accounts with up to 30% yearly rates. Its clients are mostly institutional investors and high-net-worth individuals with cryptocurrency holdings worth at least US $1 million.
Following a series C investment of US $100 million in August 2021, Matrixport’s valuation achieved unicorn status.
