News

Symbiont Adds Prominent Computer Scientist to its Technical Advisory Board

April 25, 2017 | Symbiont
Symbiont has appointed Dr. Zhong Shao, a Yale professor of computer science and leading expert in formal verification of software, to its Technical Advisory Board. Together, Dr. Shao and the Symbiont engineering team are applying cutting-edge techniques in programming language design and formal methods to the task of writing and publishing smart contracts in a decentralized network. Professor Shao is working closely with Symbiont to ensure that its smart contract language supports the highest levels of security and integrity in enterprise software.
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Financial Institutions Move Closer to Realizing a Blockchain Solution for Syndicated Loans

March 30, 2017 | PRNewswire
Synaps combines Symbiont's leading smart contract technology and Ipreo's new business process solution to help speed loan trade settlement. Nineteen firms participated in the demonstration, including Barclays, BBVA, Danske Bank, LSTA, Royal Bank of Scotland, Scotiabank, Societe Generale, State Street Corporation, TenDelta LLC, U.S. Bank, and Wells Fargo. Influential buy-side firms AllianceBernstein (AB), Eaton Vance Management, KKR, and Oak Hill Advisors were also involved in the initiative.
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Orebits & Symbiont Deploy Distributed Ledger Technology to Digitize Gold Ownership

March 15, 2017 | BusinessWire
Orebits Corp., a provider of digitization services for unrefined commodities, and Symbiont, a distributed ledger technology company, have partnered to bring clients of Orebits Corp. the opportunity to invest in unrefined gold via “smart certificates.” The certificates, called “orebits,” are digitized assets, backed by proven gold reserves, which can be exchanged electronically on a peer-to-peer basis. The first orebits were issued on Symbiont’s platform on March 10, 2017.
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Blockchain comes to Wall Street

September 23, 2016 | Yahoo Finance
Caitlin Long, president of Symbiont, joined Yahoo Finance to discuss the potential of blockchain to transform business (Video begins @ 11:47)
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Delaware’s bet on blockchain

September 22, 2016 | Karen Epper Hoffman
Delaware is stepping up what it offers corporations with an initiative that will use blockchain technology to make back-office operations more efficient
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Symbiont To Demo Smart Contracts for Insurance

September 13, 2016 | Symbiont
Symbiont, the market-leading smart contracts platform for institutional uses of blockchain technology, will host a live WebEx demonstration of its platform for insurance industry participants on September 20, 2016 at 2 p.m. ET. Participants must pre-register. Only insurance industry executives, investors, brokers or consultants will be approved to participate.
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A Smart Contract with the Devil

August 29, 2016 | Adam Krellenstein and Pinku Surana
... As a consequence of design decisions favoring popularity and rapid development over security and stability, [Ethereum] has opened itself up to terrible exploits and thefts that have resulted in great financial loss to its users.
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Delaware Considers Using Blockchain Technology

May 5, 2016 | Wall Street Journal
The blockchain system will be faster and cheaper than the existing process, since it automates a number of processes, including share registry, capital-table management and shareholder communications, said Mark Smith, chief executive of Symbiont, the New York startup working with Delaware on its blockchain initiative.
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Why Nasdaq and Symbiont Vie for Blockchain Firsts

January 4, 2016 | Financial Technologies Forum
The rush to the first-mover status via Blockchain technology is heating up between Nasdaq and Symbiont, the maker of the Smart Securities platform for trading, clearing, settling and transferring financial instruments. These early adopters are vying for key milestones in securities operations that can be transformed by the Blockchain distributed ledger technology that underpins the Bitcoin cryptocurrency.
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Symbiont Smart Securities Technology Secures Backing By An All-Star Lineup of Financial Leaders

September 6, 2015 | Mondovisione
Symbiont, a pioneer in the creation of Smart Securities on the blockchain, has secured $1.25M of seed funding from influential financial market leaders. Early investors include Duncan Niederauer, former CEO of the NYSE Euronext; Matt Andresen, founder of the Island ECN and trading head at Citadel; Getco, LLC founders Dan Tierney and Stephen Schuler through Wicklow Capital; Scott Carmilani, Chairman and CEO of Allied World Assurance Company; and Celeridem FinTech Fund. A 'Series A' round of institutional investment is expected to close in Q3 2015.
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BitBeat: Smart Contracts Land on Wall Street

August 5, 2015 | Wall Street Journal
Symbiont unveiled its Smart Securities platform at a small gathering off Wall Street at the offices of the financial-services firm Capco that was attended by investors in the firm, representatives of financial services like the clearing-house service Depository Trust & Clearing Corp. (DTCC), Morgan Stanley, and UBS.
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Wall Street, Meet Block 368396, the Future of Finance

August 4, 2015 | Bloomberg
When Justin Brownhill wants to check up on one of his latest investments through SenaHill Partners LP, he only needs to check the ledger underpinning bitcoin. The address: block 368396. That’s the new digital home for the equity stake his firm made in Symbiont, a startup using bitcoin’s underlying blockchain software to make it quicker and easier to prove ownership of assets or transfer them between buyers and sellers.
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Distributed Ledgers: A FinTech Innovation

June 18, 2015 | MarketsMedia
Distributed ledgers, the technology behind the Bitcoin blockchain, can be used to issue, trade and process an array of financial instruments on a single, global, decentralized peer-to-peer financial network. Symbiont, a startup that’s backed by several high-powered Wall Street figures, has established a platform for so-called smart securities, or financial assets that are programmable versions of traditional securities, using the distributed ledger.
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Symbiont Sets Out Plans for its Smart Securities Technology

June 17, 2015 | Intelligent Trading Technology
Symbiont is planning to issue its first private equity shares as smart securities on the bitcoin blockchain next month with a view to demonstrating its capabilities to financial institutions interested in programmable securities that are stored on a cryptographic distributed ledger called a blockchain.
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Symbiont’s Blockchain Application to Transform Financial Trading

June 10, 2015 | NewsBTC
Symbiont is a company that aims to apply blockchain technology in making a quicker and safer system for transferring assets between buyers and sellers. In doing so, it could reduce the clearing and settling time for trading, paving the way for a more efficient and streamlined market.
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Ex-NYSE head among trading veterans backing blockchain start-up

June 9, 2015 | Financial Times
The former head of the New York Stock Exchange is among veteran trading executives who are backing a start-up that aims to use the type of technology that underpins bitcoin for securities issuance and trading. Duncan Niederauer, the previous chief executive of NYSE, is part of a group that has produced $1.25m of seed money for Symbiont. The other members are Matt Andresen, trading head at Citadel who founded the Island ECN, and Getco founders Dan Tierney and Stephen Schuler.
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Smart Contracts Platform Symbiont Raises $1.25 Million

June 9, 2015 | CoinDesk
Smart contracts platform Symbiont has closed a $1.25m seed funding round. The company – which plans to issue smart securities on bitcoin's blockchain later this year – received funds from investors including Duncan Niederauer, former CEO at the New York Stock Exchange (NYSE) and Matt Andresen, former co-CEO of Citadel Derivatives Group.
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Some Financial Heavyweights Just Invested in a Trading Platform Linked to Bitcoin

June 9, 2015 | Bloomberg
Symbiont, which plans to use bitcoin’s underlying technology to make it quicker and cheaper to transfer assets between buyers and sellers, has won the backing of several financial industry heavyweights. The company, according to a statement Tuesday, has raised $1.25 million from a group including former New York Stock Exchange chief Duncan Niederauer, former Citadel LLC executive Matt Andresen, and two co-founders of high-frequency trading firm Getco LLC, Dan Tierney and Stephen Schuler.
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