Joseph Portelli appointed Chairman of Blockchain-based trading platform CloseCross

Malta Stock Exchange Executive Chairman Joseph Portelli has been appointed as the first chairman of Blockchain-based derivatives trading platform CloseCross, bringing over 35 years’ experience in the financial services industry to the fintech company which hopes to launch its trading platform this year.

Having recently become the world’s first blockchain-based derivatives trading platform to secure a MIFID II licence, CloseCross, which has offices in London and Malta, has developed its own derivatives trading platform which allows customers to invest without the involvement of major banks issuing derivatives or having to take on leverage.

Speaking of Mr Portelli’s appointment, Vaibhav Kadikar, Founder and CEO of CloseCross, says, “Joseph’s wide experience and expertise will be a major asset to CloseCross as we develop and expand the business and I look forward to working closely with him.”

“CloseCross’ innovative use of smart contracts and blockchain technology sets the platform up to be a trailblazer in the Fintech space, offering investors an opportunity to safely and cost-effectively invest in the financial markets,” Mr Portelli adds.

Mr Portelli started his career in the US in forex trading and has worked for Bank of America, Nomura, Goldman Sachs and The Milburn Corporation before moving to Malta where he worked for Global Capital, Liongate Capital Management and FMG Funds where he was Managing Director and Chief Investment Officer.

He was appointed Chairman of the Malta Stock Exchange in 2015.