Ex-BitGo Trading Head Matt Ballensweig Co-Founds Marble With $11m Seed Round

Matt Ballensweig, former Global Head of Trading at BitGo, has co-founded Marble, a new institutional trading and financing firm that has raised $11 million in seed funding led by Polychain Capital.

Ballensweig launched Marble with Leon Marshall, former CEO of Galaxy Digital's European business. Both serve as co-CEOs of the new company.

The seed round drew participation from Maven 11, Ripple, Susquehanna Crypto, Lattice, Blockwall and other investors.

Marble will operate through two divisions. Marble Markets is developing a trading platform covering digital assets, prediction markets and computing capacity, with planned services including spot trading, lending, derivatives and over-the-counter compute forwards. The company also intends to introduce tokenised equities and equity swaps, subject to regulatory approvals.

Marble Compute will provide private credit financing for independent AI cloud providers and graphics processing unit (GPU) operators. The division plans to connect institutional lenders with operators seeking financing backed by computing equipment, customer contracts and projected cash flows.

Before joining BitGo, Ballensweig co-headed trading and lending at Genesis, where Marshall also previously worked.