FCA Approves Portofino Technologies to Offer Crypto Services in the UK

The Financial Conduct Authority (FCA) has registered the
Switzerland-based market-making liquidity provider Portofino Technologies,
enabling the company to serve institutional crypto clients in the UK.

According to the press release, this step allows the
firm to engage with major banks, trading platforms, brokers, and institutional
investors. Additionally, the certification allows the firm to provide over-the-counter trading services in the UK and Switzerland.

Alex Casimo, the Co-Founder and Chief Operating
Officer at Portofino Technologies, mentioned: “Receiving the FCA‘s
approval to operate as a crypto asset trading firm in the UK is a significant
milestone for Portofino Technologies, which will allow us to expand our
institutional client base.”

“After having successfully built our product
for on-exchange trading, Portofino sees the growth of its client franchise as a
significant profit driver for the company in the coming years.”

FCA Awards Portofino Technologies UK Registration as a Cryptoasset Business https://t.co/nSpbdftsqv pic.twitter.com/sOSbwBVPce

— Latest News from Business Wire (@NewsFromBW) March 1, 2024

The expansion of OTC business by Portofino
Technologies signals a growth trajectory in its crypto offerings. The company
aims to expand its liquidity services globally by aligning with the FCA’s regulations.

Established in 2021, Portofino Technologies has been operating as a market-making liquidity
Liquidity

The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent

The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent
Read this Term provider. The firm offers a
trading infrastructure targeting the digital sector. By 2023, Portofino reportedly secured $50 million in funding from investors, such as Coatue
Management, Valar Ventures, and Global Founders Capital.