Finoa, Europe’s leading crypto asset custodian for institutions, announces today that it is opening an office in Porto, Portugal. Finoa experienced dramatic growth in 2021, reaching profitability and revenues in the double-digit million euros.

Finoa is a regulated crypto custodian, offering custody and staking products for institutional investors to safely engage with crypto and grow their portfolios. The company provides access to a variety of crypto assets and tokens and also to novel financial products and services. Founded in 2018 and based in Berlin, Germany, the company ended the year with 75 employees, growing by more than 340% since the beginning of 2021.

By the end of 2022, Finoa expects to have a staff of 20 tech and product employees in its Porto office, with company-wide plans to increase the total staff to 200 employees to support the company’s rapid growth. Portugal was chosen for the new office due to its rising status as the most crypto-friendly country in Europe and the exceptional pool of highly skilled tech talent.

“Finoa is opening this additional office at an important inflection point in the crypto industry,” said Henrik Gebbing, Co-CEO, and Co-Founder of Finoa. “Increasing numbers of institutional investors are interested in crypto, and we stand ready to unlock its potential to help them grow their portfolios.”

“We are maturing into a true one-stop shop for institutional investors and corporations around the world that want to easily interact with crypto,” said Christopher May, Co-CEO and Co-Founder of Finoa. “This addition to our tech and product team is just the first of what will be more growth to come.”