Smart Securities Startup Symbiont Gets $1.25 Million, Series A Coming in Q3

Smart securities startup Symbiont has secured $1.25 million in its first round of investment, with an additional Series A round reportedly slated for Q3 this year.

The startup is an offshoot of Counterparty, a protocol designed to support the decentralized transfer of assets by leveraging Bitcoin's Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term.

Counterparty developers Robby Dermody and Evan Wagner had been working with Overstock on its Medici project, which seeks to create a decentralized cryptosecurity marketplace, but their work ended when, according to the project's management, other protocols had to be tried. Shortly after they founded the startup to continue their work.

They previously explained that their latest project was the next step in helping improve the transparency, Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term and efficiency of capital markets. According to Symbiont's website, features like built in escrow and clearing, as well as automated corporate actions, are envisioned.

The round was led by Duncan Niederauer, formerly CEO of NYSE Euronext, and Matt Andresen, former trading head at hedge fund Citadel and now co-CEO of Headlands Technologies. Niederauer has become increasingly interested in Bitcoin technology for the trading landscape, joining bitcoin derivatives provider Tera Group as Advisory Director earlier this year.

Other investors include Dan Tierney, Stephen Schuler, Scott Carmilani (CEO of Allied World Assurance Company), and Celeridem FinTech Fund.