Symbiont Inc., a leading platform in the development of blockchain applications at the institutional level, has completed a Series B financing of US $ 20 million led by the well-known financial firm Nasdaq Ventures, followed by other new investors such as Galaxy Digital, Citi and Raptor Group. This was announced by PR NewsWire on Wednesday, January 23.
The money raised will be used in the development of a blockchain structure of intelligent contracts for institutional clients. They will also direct part of the funds to accelerate the implementation of these products to vertical business sectors, among which are mortgages, data management, private capital, and syndicated loans.
Accelerating investing in the platform
Mark Smith, CEO, and co-founder of Symbiont, has stressed that the completion of this round of financing will allow them to accelerate investments in their platform.
Smith also mentioned his experience in both finance and blockchain:
“Leveraging our financial markets and blockchain technology expertise, our anchor partners such as Vanguard, Lewis Ranieri and Nasdaq will benefit from the development of new applications distributed in Assembly, our business blockchain and the smart contract platform. Assembly offers the opportunity for new entrants to enter the digital asset market and offers existing participants a superior infrastructure on which to build the future of the financial markets. ”
Financing and introduction to the international market
Gary Offner, Director of Nasdaq Ventures, also expressed his opinion on the fact, which he said reaffirmed the commitment of the company with the investment in new technologies that favor the creation of a new structure that can be used by more than 100 markets around of the world. He added:
“Our investment will also include the integration of the business blockchain and the Symbiont smart contract platform into Nasdaq’s financial framework. We are pleased to support this important growing area to create unique institutional applications of blockchain technology. ”
Nasdaq Ventures forms a global risk investment program that seeks to cultivate talent and technology to financial services. Your participation in this project is significant, not only because of your objective as a company but also because your contributions range from US $ 1 million to US $ 10 million.
Also published on Medium.