Symbol is a trusted and secure enterprise blockchain that smooths business friction, increasing the flow of data and innovation to supercharge the creation, exchange and protection of assets. Symbol is purpose-built to help businesses cut costs, reduce complexities, and streamline innovation.

XYM is the native currency of the Symbol public blockchain. It is used to pay for transactions in order to incentivize the network of public nodes that process and record transactions, giving XYM fundamental value as the currency of a functioning economy.

In March 2021, the NEM project launched the NEM Symbol public blockchain. Before NEM Symbol was launched, XEM holders had the chance to opt-in to obtain an XYM balance equal to that of their XEM balance at the time of Snapshot.