Swiss high-frequency trading (HFT) platform for digital assets, Portofino Technologies has raised over $50 million in funding to power digital asset adoption for institutional investors and Web3 companies. The round was backed by Valar Ventures, Global Founders Capital and Coatue.
Founded in 2021 by former Citadel Securities leaders, Leonard Lancia and Alex Casimo, the startup aims to offer liquidity on the largest centralised and decentralised cryptocurrency exchanges and provides services to institutions and Web3 projects that require digital asset liquidity. With its HFT technology, the crypto-native company has built partnerships in the Web3 ecosystem to support Web3 projects and protocols.
Leonard Lancia, CEO and co-founder at Portofino said: “Our liquidity provisioning infrastructure can deliver enormous benefits to digital asset participants globally and drive the next leg of adoption. This is only the start for Portofino. In Web3, every action is a transaction and we’re building the underlying technology that is going to enable entirely new services and industries in the future.”
Alex Casimo, COO and co-founder at Portofino added: “Only the firms with market-leading technology will be able to realise the enormous opportunities available in the growing Web3 ecosystem. That’s why we decided to build Portofino as a tech company, not a trading firm.”
James Fitzgerald, founding partner at Valar Ventures added: “As the digital assets market continues to grow rapidly in size and complexity, Portofino’s proprietary technology, which enables the frictionless transfer of digital assets, will become more and more important for institutional and retail participants in the space.”
Oliver Samwer, founder at Global Founders Capital concluded: “The platform is solving the problems that digital asset market participants face today. We are convinced this is the right team to help facilitate the next leg of institutional and retail participation in this market.”
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