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Symbiont is a blockchain technology company based in New York City, New York. Symbiont develop and sells financial products including smart contracts and distributed ledgers for capital markets. The Symbiont blockchain platform, Assembly, is designed to securely distribute data across a network of computers owned and controlled by different financial institutions.
|Founder||Mark Smith, Adam Krellenstein, Evan Wagner, Robby Dermody|
|Brands||Smart Security, Smart Securities, Assembly|
Symbiont has raised US$ 35.4 million in total funding.
In January of 2019, Nasdaq Ventures led a US$ 20 million Series B round. Citigroup, Mike Novogratz’s crypto-focus merchant bank, Galaxy Digital Holdings Ltd. and Raptor Group Holdings also participated in the round.
Products and customersEdit
Symbiont’s blockchain products manage the life cycle of financial instruments including mortgages, private equity, syndicated loans and market data. In December of 2017, Vanguard announced a pilot program with Symbiont to build a product for managing index data on its blockchain platform. Vanguard now uses Symbiont blockchain technology in production to manage US$ 1.4 trillion dollars of index funds in a noteworthy implementation of blockchain technology for institutional finance. In this deployment, Symbiont's technology eliminates manual reconciliation between Vanguard and the Center for Research in Security Prices (CRSP), who publishes data to the blockchain network. Symbiont's technology also powers a venture by Vanguard aiming a making peer-to-peer trading between asset managers in the foreign exchange market possible for the first time.
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