What to know:
- Portofino Technologies is considering opening new offices in both New York and Singapore.
- The crypto market maker recently appointed Dipak Shah as head of OTC trading.
- The company aims to establish itself as a key player in electronic market making, OTC trading, and token services, according to Shah.
Portofino Technologies, a crypto market-making firm based in Switzerland, has significant goals set for 2025, as discussed in an exclusive interview with the firm’s CEO Leonard Lancia. The firm is looking to expand by potentially launching new offices in New York and Singapore.
Portofino operates under regulatory frameworks in the U.K., Switzerland, and the British Virgin Islands, and plans to enhance its licensing in accordance with the EU’s Markets in Crypto-Assets (MiCA) regulation, which became effective on December 30 of last year.
Staffing Changes: Recently, Portofino has made several senior appointments, including Dipak Shah as the head of over-the-counter (OTC) trading, who is based in London. Shah previously worked at Nomura as head of FX options trading, having also held positions at Citi and Goldman Sachs.
Shah stated, “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.”
Portofino aims to become a leading player across its three main business lines: electronic market making, OTC trading, and token services. Shah remarked, “We have already hired many high-caliber individuals in London, with further expansion planned in Asia and New York in terms of trading personnel.”
Founded by former Citadel Securities executives Leonard Lancia and Alex Casimo in 2021, Portofino successfully raised $50 million in equity funding in late 2022 and was responsible for over $100 billion in trading volume in 2024.
The firm is currently working on rebuilding after experiencing several departures last year, as reported by CoinDesk.
