Arbelos Markets Secures $28 Million in Funding to Expand Crypto Derivatives Offerings

Arbelos Markets, a crypto liquidity provider, has successfully raised $28 million in a seed funding and debt financing round led by Dragonfly Capital. The round saw participation from notable investors such as Circle Ventures, AEVO, Polygon, Deribit, Immutable, and others. The company plans to use the funds to enhance its quant trading infrastructure, expand its team, and broaden its product offerings and market reach. Founded in 2023 by Joshua Lim and Shiliang Tang, Arbelos Markets aims to become a principal dealer in the crypto derivatives market, leveraging a proprietary transparency engine developed by experienced traders and quants. This move comes at a time when institutional interest in crypto derivatives is surging, highlighted by a record $29 billion in combined open interest for Bitcoin futures and perpetual swaps in April 2024, a 160% increase from the previous year.