Portofino Technologies, a Switzerland-based crypto market making firm, has big plans for 2025, the company’s CEO Leonard Lancia told CoinDesk in an exclusive interview.
The crypto market maker is exploring opening new offices in both New York and Singapore, Lancia said.
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The firm is regulated in the U.K., Switzerland and the British Virgin Islands, and has plans to expand its licensing under the EU’s Markets in Crypto-Assets (MiCA) regulation. MiCA came into effect on Dec. 30 last year.
Portofino has made a number of senior hires in recent months. Dipak Shah has joined the company as its head of over-the-counter (OTC) trading, based in London.
Shah joined from Japanese investment bank Nomura, where he was employed as head of FX options trading. He previously worked at Wall Street banks Citi (C) and Goldman Sachs (GS).
“While clients and liquidity provision remain our number one priority we have and want to make investments in trading and technology talent to build and scale our business,” Shah said in emailed comments.
Portofino wants to be a dominant player across its three core business segments: electronic market making, OTC trading and token services.
“We have already hired many high calibre individuals in London, with further expansion planned in Asia and New York in terms of trading personnel,” Shah added.
Portofino was founded by two former Citadel Securities leaders Leonard Lancia and Alex Casimo in 2021. It raised $50 million in equity funding in late 2022.
The firm was responsible for over $100 billion in trading volume in 2024, it said.
The company is rebuilding after suffering a number of departures last year, as reported by CoinDesk.
Read more: FCA-Regulated Crypto Trading Firm Portofino Technologies Sees Staff Exodus
