In June, Bitcoin Magazine reported that Symbiont had secured $1.25 million of seed funding from influential financial market leaders including Duncan Niederauer, former CEO of the New York Stock Exchange (NYSE). Symbiont, a fintech company focused on fostering the symbiotic relationship between traditional financial markets and cryptographic blockchain technology, was founded in March by Counterparty and MathMoney f(x) founders to create the first issuance and trading platform for smart securities based on the blockchain technology.
Now, Symbiont has issued the first Smart Securities on the Bitcoin blockchain. Symbiont’s live platform allows institutions and investors to issue, manage, trade, clear, settle and transfer a range of financial instruments more efficiently on decentralized and distributed peer-to-peer financial networks that are cryptographically secured. Initial use cases for Smart Securities include corporate debt, syndicated loans, securitized instruments and private equity.
“We are proud to be on the leading edge of this blockchain and distributed ledger movement,” said Mark Smith, CEO and co-founder of Symbiont. “With interest in distributed ledger technology growing rapidly, financial institutions are exploring how to leverage it to improve the efficiency and security of trading and processing financial transactions. Smart Securities