Portofino Tech: Expanding Global Footprint, Hiring Crypto Elite

Portofino Technologies, a Switzerland-based crypto market making firm, has ambitious plans for the next few years, as revealed by its CEO Leonard Lancia in an exclusive interview with CoinDesk. The company is exploring the possibility of opening new offices in both New York and Singapore, aiming to expand its global footprint.

The firm, which is currently regulated in the U.K., Switzerland, and the British Virgin Islands, is also planning to expand its licensing under the EU's Markets in Crypto-Assets (MiCA) regulation. MiCA came into effect on Dec. 30, 2022, and is expected to provide a more comprehensive regulatory framework for crypto-asset service providers.

Portofino has been actively strengthening its team with senior hires in recent months. Dipak Shah has joined the company as its head of over-the-counter (OTC) trading, based in London. Shah brings extensive experience from his previous roles at Nomura, Citi, and Goldman Sachs. In a statement, Shah emphasized the company's commitment to investing in trading and technology talent to build and scale its business.

Portofino's strategic goal is to become a dominant player across its three core business segments: electronic market making, OTC trading, and token services. The company has already hired high-caliber individuals in London and plans further expansion in Asia and New York in terms of trading personnel.

Founded by two former Citadel Securities leaders, Leonard Lancia and Alex Casimo, in 2021, Portofino raised $50 million in equity funding in late 2022. The firm reported over $100 billion in trading volume in 2024, demonstrating its significant impact on the crypto market.

Despite facing some departures in 2023, as reported by CoinDesk, Portofino is rebuilding and positioning itself for growth in the coming years. With its ambitious plans and strategic hires, the company is well-positioned to capitalize on the expanding crypto market.