Symbiont.io Inc., a NYC-based provider of a blockchain platform for the global financial markets, closed a $20m Series B funding.
The round was led by Nasdaq Ventures with participation from additional new investors including Galaxy Digital, Citi, Raptor Group, and others.
The company intends to use the funds to accelerate deployments across multiple business verticals including Data Management, Mortgages, Private Equity, and Syndicated Loans and explore new business opportunities to utilize its enterprise blockchain and smart contract platform, Assembly™, with existing and new clients that are seeking smart contract and tokenization solutions.
Led by CEO and Co-founder Mark Smith, Symbiont has developed Assembly, a platform for institutional applications to leverage smart contracts to enable complex instruments to live their entire lifecycle on a decentralized, enterprise blockchain network with end-to-end privacy. Institutions are working with Symbiont to develop new business lines, increase transparency, reduce risk, and save costs.
The company partners with industry leaders such as Citi, Nasdaq, Ranieri and Vanguard.