NASDAQ Invests In Symbiont Blockchain Platform And Supports Mass Adoption
NASDAQ is riding the innovative wave of the blockchain adoption and cryptos instead of fighting it.
The newest addition to the list of people who predict a great future for Bitcoin and crypto, in general, is NASDAQ CEO, Adena Friedman.
In a post on Linkedin, she explains that crypto and Bitcoin are some truly groundbreaking innovations that deserve to become a part of the global economy.
“The invention itself is a tremendous demonstration of genius and creativity, and it deserves an opportunity to find a sustainable future in our economy.
NASDAQ pushes for crypto and blockchain adoption
NASDAQ has been supportive of the blockchain tech and cryptos for quite a while, and now they took another step in the push for adoption.
They have invested a massive amount of money to finance a startup that develops Enterprise blockchain solutions.
An official press release reveals that Symbiont has successfully closed a $20 million Series funding round.
Nasdaq Ventures was leading the round that included more significant names which were involved such as Mike Novogratz’s Galaxy Digital, Citi and Raptor Group among others.
We are excited to welcome @SymbiontIO, a market-leading platform for institutional applications of #blockchain technology, to @Nasdaq Ventures. https://t.co/cjqFN6tdP8 #RewriteTomorrow pic.twitter.com/hqA5zCxK45
— Nasdaq (@Nasdaq) January 23, 2019
Promoting the development of a blockchain platform
The money will be used in order to promote the development of Assembly which is a blockchain platform that’s been created by the company in order to support Smart contracts and tokenization solutions.
“Our anchor partners like Vanguard, Lewis Ranieri, and Nasdaq will benefit from developing new distributed applications on Assembly, our enterprise blockchain and smart contract platform. Assembly provides the opportunity for new participants to enter the digital asset market and offers existing participants a superior infrastructure on which to build the future of financial markets,” Symbiont CEO and Co-founder Mark Smith said.
Gary Offner, Head of Nasdaq Ventures strongly believes that products like Assembly can support the economic growth of many companies on a global scale.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.