Symbiont, a smart contracts platform for institutional applications of distributed ledger technology, announced on Monday it has opened its new international headquarters in Amsterdam. This news comes less than six months after the company secured $20 million through its Series B funding round, which was led by Nasdaq Ventures with participation from additional new investors including Galaxy Digital, Citi, and Raptor Group.
As previously reported, Symbiont has developed the “market-leading” platform for institutional applications of blockchain technology. Its smart contracts enable complex instruments to live their entire lifecycles on a decentralized enterprise blockchain network with end-to-end privacy. The company also explained that institutions are working with it to develop new business lines, as well as increase transparency, reduce risk, and save costs.
Symbiont reported that the expansion will also enable it to maximize the value of their existing global partnerships with firms such as Citi, Nasdaq, and Vanguard. While sharing more details about the new headquarters, Mark Smith, Symbiont CEO and Co-Founder, stated:
“Amsterdam is a natural choice for our international headquarters and a great complement to our U.S. operations in New York. With this expansion, we’re connecting our partners to a cutting-edge international fintech hub and laying the groundwork for global collaboration.”
Nikhil Thakur, Symbiont’s Chief Financial Officer, will notably be leading the Amsterdam office as General Manager in Europe. Thakur went on to add:
“[I am] excited to add new talent to our existing European team’s deep expertise and proven track record for the benefit of our partners.”