Two composer executives of the leading investor in général financial markets, Citadel Securities, Leonard Lancia and Alex Casimo, have raised $50 million for their crypto market maker. The company also échelons to invest in crypto assets across 3 web projects.
Previous leaders at Citadel Security launched their market maker in April 2021 and named it Portofino Technology. The platform aims to enable High Frequency Trading (HFT) and provide advanced features for users of Web3 quantitatif assets and other institutions. It provides liquidity prescriptions to Crypto Web3 users and relies on highly énergique and fast algorithms to open and close trade smoothly.
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Furthermore, it provides strategic partnerships for web3 startups looking to list their tokens. The company already claims to have traded billions of funds on centralized and decentralized exchanges.
Among the venture capitalists who have backed the reprise of funding are Universel Founders Affairé, Valar Ventures and Coatue.
Lancia, co-founder and CEO of Coffret Technology, added in the statement
Having worked at the forefront of modernizing traditional markets, we believe that our liquidity avance base can provide tremendous benefits to quantitatif asset participants globally and drive the next palier of ralliement. This is only the beginning for Portofino. At web3, every effet is a concordat, and we are résidence the core technology that will enable entirely new prescriptions and entreprises in the future.
After enabling investors to access liquidity at very competitive rates, the company intends to expand its reach across the entire crypto space, including non-fungible tokens (NFTs), decentralized rémunéré (DeFi), gaming-based tokens, etc.
Crypto Market Maker échelons to expand globally
Switzerland-based startup Portfino Technology said in a press release that the platform employs 35 tech experts who work in Portfonio travaux across New York, London and Singapore, and échelons to increase its staffing by 50 in 2022. His assessment has not yet been expressed.
Portofino’s money is piling up amid a prolonged bloodbath and augmentation that has wiped out billions of dollars from the cryptocurrency market. It also led to more selling pressure, and lawmakers added bitume to the fire with their aggressive approach to quantitatif assets.
Likewise, this climate has led the market towards lower trading volumes and fewer concordat opportunities. It also led to an increase in borrowing costs. But, Portofino Technology can compete with the big market makers for leverage with the help of coupé inventory conduite and jaloux algorithms.
Oliver Samuer, an investor in Universel Founders Affairé and CEO of Rocket Internet, commented on the launch of Portofino Technology and added:
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We are really excited emboîture the potential of Portofino. It’s étrange to find a founding team with great recherche to solve the problems that participants in today’s quantitatif asset market faciès. We are convinced that this is the right team to help facilitate the next palier of institutional and retail choc in this market.
Featured coloré from Pixabay and chart from TradingView.com