In a NASDAQ lead series B funding round, Symbion.io Inc. collected a total of 20 million dollars to accelerate investments in their blockchain platform and development team. The funding round saw participation from new investors such as Galaxy Digital, Citi, Raptor Group, and others.
Leveraging their financial markets and blockchain technology expertise will benefit Symbiont’s anchor partners like Vanguard, Lewis Ranieri and NASDAQ. The blockchain starts up’s enterprise blockchain, and smart contract platform will provide an opportunity for new players to enter the digital asset market while at the same time offer existing participants a superior infrastructure upon which Symbiont.io Inc. will facilitate the development of future of financial markets.
NASDAQ plans to investigate the use of Symbiont’s Assembly as their next step towards adopting the latest financial technology and leveraging digital transformation for businesses. Symbiont will utilize this funding in multiple verticals such as Data Management, Mortgages, Private Equity, and Syndicated Loans. NASDAQ also plans to explore new business opportunities with Assembly for clients seeking tokenization and smart contract solutions.
“We are committed to discovering and investigating in innovative technologies to help build our future market infrastructure use by more than 100 marketplaces around the world.” Said Gary Offner, Head of NASDAQ Ventures. “Our investments will also include the integration of Symbiont’s enterprise blockchain and smart contract platform into the NASDAQ Financial Framework. We are pleased to support this important, growing area for creating unique institutional applications of blockchain technology.”
Symbiont develops a platform for institutional applications of blockchain technology. Symbiont smart contract facilitates complex instruments to spend their business lifecycle on an entirely decentralized, enterprise-level blockchain network with complete end-to-end privacy. Headquartered in New York City, Symbiont has become the financial technology partner for industry leaders such as Citi, NASDAQ, Ranieri, and Vanguard.
Developed under the supervision of a team of experts in capital markets and blockchain technology, Assembly enables financial institutions to safeguard the peer-to-peer nature of their transactions with no central authority, while also reaping the benefits of a shared database with end-to-end privacy.