Symbiont

Capital Markets · DLT Technology · Finance & Banking
Symbiont header

Symbiont

Capital Markets · DLT Technology · Finance & Banking

Smart Contract Platform (Capital Markets & Institutional Applications)

United States, New York
$29M
Total amount raised
2015
Year of establishment
Active
Status

About

Hi we’re Symbiont!


Symbiont.io is an enterprise-driven blockchain initiative and smart contract platform for institutional applications of blockchain technology. Symbiont Assembly is a blockchain platform for building networks in which multiple independent entities may share data and logic in real time. It is a decentralized database that replicates and executes application logic in the form of smart contracts. This platform may be used to create financial instruments such as loans and securities in a digital form from their inception. Assembly was purpose built to meet the standards of institutional finance in security, reliability, and performance. Headquartered in New York City, Symbiont is a financial technology company founded by a team of experts in capital markets and blockchain technology, with a core focus on loans and institutional applications. Symbiont disclosed a number of highly influential users including the likes of Credit Suisse and 19 financial institutions for Smart Loans™ (executed via Synaps, a syndicated loans platform); the State of Delaware for Smart Records™; a major European insurance company for Smart Swaps™ (in the catastrophe insurance market); and Orebits, a provider of asset digitisation services.

Symbiont have built a permissioned blockchain platform named Symbiont Assembly. Together with Ipreo, Symbiont launched Synaps, a syndicated loans platform for its Smart Loans™ product. Synaps combines Symbiont’s smart contract technology and Ipreos’ new business process solution to help speed loan trade settlement. Symbiont has also launched other smart contracts utilized for its Smart Records™ and Smart Swaps™, as well as other financial instruments within capital markets.

In June 2017, Symbiont expanded its global footprint by opening its international headquarters in the Netherlands. Together with its data partner Ipreo, Symbiont launched a joint venture, Synaps LLC. 19 firms participated in the successful pilot (including Barclays, BBVA, Danske Bank, LSTA, Royal Bank of Scotland, Scotiabank, Société Générale, State Street Corporation, TenDelta, U.S. Bank, and Wells Fargo); buy-side firms AllianceBernstein, Eaton Vance Management, KKR, and Oak Hill Advisors were also involved. Symbiont raised a combined $35.4 million across three funding rounds.

Key objective

Aims to be the market-leading platform for institutional applications of blockchain technology.

Slogan / Motto

Smart Securities, Intelligent Markets

Use cases

Fundraising
Lending
Smart Contracts
Asset Tokenization

Team

Team members

Evan Wagner Co-Founder

Mark Smith Founder and Chief Executive Officer

Responsibilities

Experienced entrepreneur and financial technology executive with 2 utility and business process patents in electronic foreign exchange trading systems now focused on Smart Securities and blockchain technology.

Adam Krellenstein Founder & Chief Technology Officer

Responsibilities

Adam Krellenstein is Co-Founder and CTO of Symbiont.io, Inc., a FinTech company focused on coupling traditional financial markets and blockchain technology using smart contracts. He is co-founder and chief architect of Counterparty, a protocol for trustless, peer-to-peer finance built on top of the Bitcoin blockchain and responsible for 1% of daily Bitcoin transactions. Adam is Founding Director and Chief Scientist of the Counterparty Foundation.

Customers / Partners

Products

Funding

Received funding
$28,930,000
Total amount raised
6
Rounds
14
Total amount of investors
Amount Raised
Funding type
Funding round closing
Investors
$20,000,000
Series B
Citi Ventures
Galaxy Digital
Nasdaq Ventures
Raptor Capital Management
N/A
Venture
Medici Ventures
N/A
Series A
Hundsun Technologies
$7,000,000
Series A

$690,000
Seed
Celeridem FinTech Fund
$1,240,000
Seed
Atlantic Merchant Capital Investors
Celeridem FinTech Fund
Duncan Niederauer
Matt Andresen
Scott Carmilani
SenaHill Partners
Wicklow Capital

News

Why Vanguard is convinced it needs a blockchain for over-the-counter FX trading

Quick... Vanguard partnered with Symbiont for a pilot that automated FX... Using blockchain for OTC mitigates the need for back and forth between counterparties and cuts down transaction time which means less exposure for both... OTC doesn’t have an established centralized system, making it the space where Vanguard is looking to start its blockchain...


10 months ago


Opinion
Vanguardium Legal
Symbiont

Vanguard Advances Blockchain Technology Pilot

Via a partnership with technology provider Symbiont, the firm aims to streamline asset-backed securities...


a year ago


Partnership
Vanguardium Legal
Symbiont

Mutual Fund Giant Vanguard Wraps Phase 1 of Digital Asset-Backed Securities Pilot

Vanguard worked with blockchain startup Symbiont, BNY Mellon, Citi, State Street and others to model the full lifecycle of digital ABS settlement.


a year ago


General news
Vanguardium Legal
Symbiont
BNY Mellon Blockchain
Citigroup Inc.
State Street

Vanguard, BNY Mellon, Citi, State Street complete blockchain pilot for asset backed securities

Today Vanguard announced it completed the first pilot for an asset backed securities (ABS) solution developed with Symbiont. Also involved were BNY Mellon, Citi, State Street and a “large ABS issuer” in the banking sector. Vanguard had almost $6.2 trillion in assets under management as of January this year. Asset backed securities are seen as a good match for blockchain...


a year ago


Product update/release
Vanguardium Legal
BNY Mellon Blockchain
Citigroup Inc.
State Street
Symbiont
The Bank of New York Mellon

Investment manager Vanguard completes first phase of securities digitization pilot with Symbiont

Investment management giant Vanguard announced Thursday that it had finished the initial phase of an ongoing pilot focused on the digitization of asset-backed securities.


a year ago


Product update/release
Vanguardium Legal
Symbiont