Marble launches with an $11M Series Seed led by Polychain Capital
With participation from Maven 11, Ripple, Susquehanna Crypto, Lattice, Blockwall Ventures and angel investors
Marble is building capital markets infrastructure for frontier markets. Its first two businesses, Marble Markets and Marble Compute, bring institutional trading and financing to digital assets, equities, prediction markets and AI compute.
A note from Matt Ballensweig and Leon Marshall, co-founders and co-CEOs.Why we built Marble
Over the last decade we have built and run institutional trading businesses through every phase of the digital asset market, first together at Genesis and then separately at BitGo and Galaxy. In that time, new markets have kept forming faster than the capital markets around them. The trading desks and lenders arrive late, and institutions that want in end up using several counterparties for what one should handle.
The same problem now shows up across several markets at once. Digital assets, tokenized equities and real-world assets, prediction markets and AI compute are each growing on their own timeline, but more and more they serve the same clients and need the same capital and infrastructure. We built Marble to serve them from one platform.
Today we are launching Marble with $11 million in Series Seed funding led by Polychain Capital.
Marble Markets
Marble Markets is an institutional trading business. We offer spot trading, borrowing and lending, and derivatives on a principal basis across digital assets, equities and RWAs, prediction markets and compute. Clients face Marble directly on every trade, and we settle through the custodians, brokerages and banks they already use, so they can trade, pledge collateral and borrow without prefunding us or moving assets out of custody.
A client deals with one counterparty across every market it trades.
Marble Compute
Marble Compute provides institutional private credit for AI infrastructure. The largest neoclouds and hyperscalers have access to bank and public-market capital. Mid-market GPU operators and neoclouds largely do not, and they need financing faster than traditional lenders are set up to provide it.
Marble Compute arranges and structures that financing, works with operators to secure qualified offtake, and underwrites against both the offtake contracts and the hardware. Lenders, including the digital asset firms we have worked alongside for years, can fund those loans through traditional and on-chain vehicles.
How the two fit together
The two businesses feed each other. Capital from institutional digital asset markets can finance AI infrastructure through Marble Compute, and the operators we finance will need to hedge GPU pricing, utilization and hardware-cycle exposure, which they can do on Marble Markets.
Who is backing us
We are grateful to Polychain Capital for leading the round, and to Maven 11, Ripple, Susquehanna Crypto, Lattice and Blockwall Ventures, along with a group of angel investors, for joining it.
What comes next
We are using the capital to build our team across trading, risk, legal, operations and compute financing, and to stand up the trading, custody and banking connectivity behind Marble Markets.
We learned how to build these businesses, and how to manage their risk, by running them through a full market cycle. That is why no single counterparty or position should be able to threaten Marble, and why the lending we do is overcollateralized.
Institutions, GPU operators, lenders and partners can reach us through Early Access.