NEW YORK--(BUSINESS WIRE)--Symbiont, a pioneer in the use of smart contract technology for institutional financial markets, has been awarded the 2017 Custody Risk Global Award for Fintech Company of the Year.
The aim of the awards is to find out the best custodians and fund administrators in Europe, Americas and Asia as well as the best organizations globally. The short-list of candidates in this award category included Duco, R3 and SETL.
“We are grateful to the judges for recognizing the importance of Symbiont’s platform in helping to efficiently manage custody risk,” said Mark Smith, CEO & co-founder of Symbiont. “We showed in our pilot project with 19 institutions in the syndicated loan market, via our joint venture with Ipreo called Synaps, that Symbiont’s technology could efficiently custody and transfer assets.”
“It is an honor to be recognized by the industry with this award,” said Caitlin Long, Chairman and President of Symbiont. “We believe that blockchain technology has unique potential to reduce custody risk by making it easier than ever to track ownership and transfers of financial assets, including loans, securities and real property. We’re proud to be playing an important part in helping to build more intelligent markets.”
Over the past year, Symbiont has provided the technology behind several major blockchain projects. Publicly-disclosed major projects include the 19-party pilot for syndicated loans (via Synaps, its joint venture with Ipreo) and the Delaware Blockchain Initiative.
Symbiont is the market-leading smart contracts platform for institutional applications of blockchain technology. Disclosed users of its platform include nineteen financial institutions for Smart Loans™, arranged by Credit Suisse and executed via Synaps, its syndicated loans joint venture with Ipreo; the State of Delaware for Smart Records™; a major European insurance company for Smart Swaps™ in the catastrophe insurance market; Orebits, a provider of asset digitization services; PrivateMarket.io, an alternative assets platform; and Medici Ventures, a blockchain-focused venture firm.
For more information, visit symbiont.io