Symbiont.io, Inc.
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| File:Symbiont (company) logo.png | |
| Delaware Corporation | |
| ISIN | 🆔 |
| Industry | Blockchain technology |
| Founded 📆 | 2015 |
| Founder 👔 | Mark Smith, Adam Krellenstein, Evan Wagner, Robby Dermody |
| Headquarters 🏙️ | , , |
Area served 🗺️ | |
| Brands | Smart Security, Smart Securities, Assembly, SymPL |
| Members | |
Number of employees | |
| 🌐 Website | symbiont |
| 📇 Address | |
| 📞 telephone | |
Symbiont is a blockchain technology company based in New York City, New York.[1] Symbiont develops the Assembly blockchain platform, which is used by financial institutions, including Nasdaq, Citigroup and Vanguard.[2]
History[edit]
Symbiont was founded in 2015 by Mark Smith (CEO), Adam Krellenstein, Evan Wagner and Robby Dermody.[1][3] Symbiont early investors include Duncan Niederauer, former CEO of the New York Stock Exchange, and former co-head of Citadel Matt Andresen.[4][5] In January 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.[1] Symbiont has 75 employees as of June 2019.[6]
Products and customers[edit]
Symbiont's blockchain products manage the life cycle of financial instruments such as mortgages, private equity, syndicated loans and market data by creating digital representations of them on a decentralized ledger.[6]
In December 2017, Vanguard announced a pilot program with Symbiont to build a product for managing index data on its blockchain platform.[7] Vanguard now uses Symbiont blockchain technology in production to manage US$1.5 trillion of index funds,[2] for the purpose of eliminating manual reconciliation between Vanguard and the Center for Research in Security Prices (CRSP), who provides Vanguard with market data.[3] This was the first use of blockchain technology by a large financial institution in one of their core systems.[6]
Vanguard also uses Symbiont technology in a venture aimed at allowing for peer-to-peer trading between asset managers in the foreign exchange market.[8]
References[edit]
- ↑ 1.0 1.1 1.2 Marsh, Alastair (2019-01-23). "Nasdaq, Citi Join Novogratz in Funding Blockchain Firm Symbiont". Bloomberg. Retrieved 2019-06-28.
- ↑ 2.0 2.1 del Castillo, Michael; Schifrin, Matt (2020-02-19). "Blockchain 50". Forbes. Retrieved 2020-02-19.
- ↑ 3.0 3.1 Shen, Lucinda (2019-01-23). "Blockchain Startup Symbiont Raises $20 Million to Take Aim at a Cause of the Financial Crisis". Fortune. Retrieved 2019-11-14.
- ↑ Chavez-Dreyfuss, Gertrude (2015-06-10). "U.S. tech company raises $1.25 mln from ex-NYSE Euronext CEO, ex-Citadel trader". Reuters. Retrieved 2016-06-01.
- ↑ Bullock, Nicole (2015-06-09). "Ex-NYSE head among trading veterans backing blockchain start-up". Financial Times. Retrieved 2016-06-01.
- ↑ 6.0 6.1 6.2 Kauflin, Jeff (2019-05-30). "Vanguard Is Now Using Blockchain Technology To Help Manage $1.3 Trillion In Index Funds". Forbes. Retrieved 2019-06-28.
- ↑ Eha, Brian Patrick (2017-12-12). "Vanguard leapfrogs cautious banks, unveils blockchain network plan". American Banker. Retrieved 2017-12-14.
- ↑ Marsh, Alastair (2019-10-03). "Vanguard to Challenge Banks' Grip on $6 Trillion Currency Market". Bloomberg. Retrieved 2019-10-24.
External links[edit]
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