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Smart Contracts Platform Symbiont Raises $1.25 Million
Updated Sep 11, 2021, 11:43 a.m. Published Jun 9, 2015, 3:56 p.m. 1 min read
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.
The startup grew out of the Counterparty project, which in turn provided support for Overstock's Medici project during its early stages. Several developers went on to leave Medici and later established Symbiont.
Mark Smith, CEO of Symbiont, said in a statement: "The blockchain not only has the potential to democratise markets but to drive down the cost of doing business across all sectors."
Symbiont's focus on blockchain tech aims to improve the financial market for traders, by lowering costs and increasing security, transparency and liquidity.
"It's an exciting, timely and much-needed development for the long-term health of the markets," said Niederauer, managing member of 555 Capital and member of Symbiont's board of directors.
The company's Series A funding round is expected to close later this year.
Higit pang Para sa Iyo
XRP stayed trapped inside the same consolidation structure after another rejection near $1.36, with traders watching whether months of compression finally resolve into a larger move.
Ano ang dapat malaman:
- XRP remains locked in a tightening trading range between roughly $1.30 and $1.38, with repeated failures near $1.36 reinforcing that zone as major resistance.
- Despite weak short-term momentum and a failed breakout attempt near $1.36, support around $1.30 continues to hold as larger holders show few signs of aggressive selling.
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