Portofino Technologies raises 50 million dollars

To date, Portofino Technologies has secured investments in the amount of 50 million US dollars. The Zug-based start-up for crypto-native technologies, which was only founded in 2021, has been supported by the venture capital firms Valar Ventures, Global Founders Capital and Coatue, further details of which can be found in a press release. Portofino intends to use this equity to develop and build financial infrastructure technology to boost digital asset adoption. The company’s vision is to upscale this technology in order to cover the entire crypto infrastructure value chain.

“Only the firms with market-leading technology will be able to realize the enormous opportunities available in the growing Web3 ecosystem”, explains Alex Casimo, COO and co-founder of Portofino, in the press release, adding that: “That’s why we decided to build Portofino as a tech company, not a trading firm”. Portofino is working to achieve this alongside its team of more than 35 high-frequency trading (HFT) specialists at five locations around the world.

The start-up provides institutions and Web3 projects with the liquidity and infrastructure they need to conduct transactions across the digital asset ecosystem. And in Web3 every action is a transaction, according to Portofino. To date, the firm has reportedly traded billions of dollars across both centralized and decentralized cryptocurrency exchanges.