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Funding

Nasdaq leads way in £15 million funding for enterprise blockchain platform Symbiont

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New York-based blockchain technology firm Symbiont.io has recently closed a £15.29m series B financing round, which was led by Nasdaq Ventures. Other investors included Galaxy Digital, Raptor Group, and Citi. The accumulated funds will be utilised to expedite deployments across various business areas, such as mortgages, syndicated loans, mortgages, and data management.

Apart from being an investor, Nasdaq will explore new business opportunities to use the company’s enterprise blockchain and smart contract platform, called Assembly, with its existing and new clients who are looking for smart contract and tokenisation solutions. The platform allows financial institutions to keep the peer-to-peer mode of transactions without the interference of any central authority, along with benefits of a shared database with end-to-end privacy.

Greg Wasserman, co-head of principal investing at Galaxy Digital, said: “Symbiont’s technology and platform are purpose built for a wide range of applications within and outside of the financial services industry. We have been impressed with Symbiont’s team and their traction with many leading financial institutions. We are excited to support Symbiont’s next stage of growth alongside firms such as Nasdaq and Citi.”

In Switzerland, blockchain-based smartcard wallets manufacturer Tangem also recently raised £11.6m from Tokyo-based digital asset venture investment firm SBI Crypto Investment. Tangem, which claims to be a pioneer in making cryptocurrencies as easy to use as cash, is now attracting additional investment to hasten the deployment of its technology in various industries where secure storage and circulation of blockchain assets has the highest potential. Industries of interest include ticketing, digital identity, anti-counterfeiting, and retail loyalty and promotions.

Interested in hearing leading global brands discuss subjects like this in person? Find out more at the Blockchain Expo World Series, Global, Europe and North America.

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