Portofino Launches New Borrowing Pool On Clearpool To Enhance Trading Capital
- Portofino Technologies has launched a single borrowing pool on Clearpool.
- The pool is launched on the Ethereum instance of Clearpool.
- Clearpool is a decentralized capital markets ecosystem for institutional borrowers that allows institutions to access digital assets and DeFi securely.
Market maker Portofino Technologies launched a single borrowing pool on Clearpool, an unsecured lending DeFi protocol, and will launch it on Clearpool’s Ethereum version.
Clearpool is a decentralized capital markets ecosystem for institutional borrowers, enabling institutions to securely access digital assets and DeFi.
Portofino is a digital asset high-frequency trading (HFT) market maker. Our technology enables us to deliver improved liquidity on the major controlled and decentralized crypto exchanges (DEX).
Portofino was formed by Leonard Lancia and Alex Casimo, two former Citadel Securities Europe executives, and is supported by Valar, Global Founders Capital, and Coatue. It has a staff of 35+ HFT professionals spread between Zug, London, and Amsterdam.
According to the company, it borrows money purely to support its trading capital. Borrowing via partners such as Clearpool enables them to grow our trading activities more efficiently.
Portofino also provides advice and technical assistance to Web3 companies interested in listing their assets on markets. Longer term, the business intends to be more than just a cryptocurrency market maker by assisting new services and sectors to join Web3. The company CEO Lancia said in a Bloomberg report:
“In five years, 10 years from now, if you believe in the narrative of the tokenized economy, what you will see is that any small business could issue tokens that have some sort of utility or engagement.”
Portofino works with a variety of financing counterparties, and the firm maintains its borrowing portfolio as a whole to avoid becoming overleveraged.
“The size of each individual loan can range from $500k to >$10MM. We look forward to building long-term relationships with our Clearpool lenders and growing our pool over time,” Portofino said in a release.
Portofino has traded billions of dollars across centralized, decentralized, and OTC cryptocurrency marketplaces since its inception in April 2021.
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