A statement from Lakeba said the appointment was a natural outcome given the relationship between the two companies.

Last year, Mobecom took on Lakeba as its partner in blockchain development to build a cryptocurrency solution, AirCrypto, for its customer loyalty platform airBux. Subsequent to that, Lakeba's Paid By Coins venture was acquired by Mobecom six months after launch.

The statement said Porcelli's appointment was part of a wider strategic review undertaken by Mobecom to achieve stronger growth.

"So much of what we have achieved at Lakeba, in terms of managing a fast growth, multi-market company, is equally relevant to Mobecom. I look forward to working in partnership with Mobecom’s board and leadership team to help drive future growth.”

As Lakeba Group chief executive and founder, Porcelli is responsible for multiple ventures such as Ezidox, Verimoto, Shelfie, Quixxi and 360dgrees.

Porcelli is also board director at Xplora Capital and Mongrov USA, a fellow of the Australian Digital Commerce Association and a member of the Wall Street Blockchain Alliance.