Portofino Technologies Plans Expansion for 2025

Portofino Technologies, a Switzerland-based crypto market-making firm, has ambitious plans for 2025, according to CEO Leonard Lancia in an exclusive interview with CoinDesk.

The company is exploring the possibility of opening new offices in New York and Singapore.

Regulated in the U.K., Switzerland, and the British Virgin Islands, Portofino aims to expand its licensing under the EU’s Markets in Crypto-Assets (MiCA) regulation, which became effective on December 30, 2022.

In recent months, Portofino has made several senior hires, including Dipak Shah as the head of over-the-counter (OTC) trading based in London. Shah previously worked at Japanese investment bank Nomura, where he was the head of FX options trading, and at Wall Street banks Citi and Goldman Sachs.

“While clients and liquidity provision remain our number one priority, we aim to invest in trading and technology talent to build and scale our business,” Shah stated in emailed comments.

Portofino seeks to establish itself as a dominant player in its three core business segments: electronic market making, OTC trading, and token services.

With a focus on hiring high-caliber personnel in London, the firm plans further expansion in Asia and New York.

Founded in 2021 by former Citadel Securities leaders Leonard Lancia and Alex Casimo, Portofino raised $50 million in equity funding in late 2022 and reported over $100 billion in trading volume in 2024. The company is currently rebuilding after experiencing a significant staff turnover last year.

Read more: FCA-Regulated Crypto Trading Firm Portofino Technologies Sees Staff Exodus