Symbiont: Series B funding round completed with $20 million and Nasdaq in lead

Posted 24 January, 2019


Symbiont company has announced the completion of the Series B funding with $20 million investment results. 

According to the company press release, the round was led by the market giant  Nasdaq Ventures along with  Galaxy Digital, Citi, Raptor Group. The total amount of attracted funds reached $20 million.

"Closing this round of funding enables us to accelerate investments in our platform and team," noted Symbiont CEO and Co-founder Mark Smith.

As the company commented, the received funds will be spent "to accelerate deployments across multiple business verticals including Data Management, Mortgages, Private Equity, and Syndicated Loans." Following the investment agreement, NASDAQ division will use Symbiont's Assembly smart contract platform for expansion of business solutions that are being offered to the existing and new users. The Assembly platform is said to assist new players in joining the world fo crypto assets, while the existing ones benefit from better infrastructure.

"Our investment 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," said Gary Offner, Head of Nasdaq Ventures.

The company added that they carried out commercial launch of the company's several instruments this year.

Previous story

24 January, 2019 14:38

← Anchor Labs inaugurates institutional-level custodian project

Anchor Labs run by former security experts at Docker and Square Nathan McCauley and Diogo Monica reportedly rolled out a custodian solution Anchorage aimed at large investors. Anchor Labs managed to raise $7 million during the Series A funding round supported by the leading market players a16z (Andreessen Horowitz), Khosla Ventures, Max Levchin, Elad Gil, Naval Ravikant of AngeList, and Mark McComb of BlackRock. The new solution is mainly designed to cope with the safe keeping of cryptos.

Anchor Labs inaugurates institutional-level custodian project

Next story

24 January, 2019 12:50

UK to monitor security tokens and stablecoins →

The Financial Conduct Authority (FCA) of the United Kingdom has made a motion to classify crypto assets into three different categories with further application of the current legislation. The authority released the Guidance on Cryptoassets on January 23. Crypto assets bring potential risks for consumers and investors, as the regulator noted. The legal framework in the sector will enable companies to operate without violating the existing legislation.

UK to monitor security tokens and stablecoins
Write a comment
Prove you’re not a bot + 5 = 19