Orca and Loopscale Merge to Form Crypto Capital Markets Platform
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New York – October 07, 2026 -- Orca and Loopscale have merged into a single entity called Formation, combining trading, credit and vault infrastructure to finance AI, robotics and defense companies that fall outside traditional capital market structures.
Formation targets a $3 trillion AI infrastructure financing gap
Apollo estimates nearly $3 trillion will be needed for AI infrastructure alone through 2028, capital that many frontier companies struggle to access because fixed underwriting, legal, servicing and distribution costs favor large, standardized deals. Formation says it will cut the cost and complexity of structuring, distributing and financing these assets by unifying origination, vault strategies and distribution on top of the existing Orca and Loopscale protocols.