Symbiont launches Smart Securities on Blockchain

Symbiont, a cryptocurrency startup, has launched its first Smart Securities on Bitcoin's blockchain. The details on the nature of the securities launched or any other specifics have not been revealed yet.

The startup is an offshoot from Counterparty, a protocol developed to facilitate the decentralized transfer of assets by making use of Bitcoin's blockchain. It received $1.25 million in funding two months ago.

"With interest in distributed ledger technology growing rapidly, financial institutions are exploring how to leverage it to improve the efficiency and security of trading and processing financial transactions. Smart Securities will ultimately change the way that financial instruments are issued, managed, and traded", said Mark Smith, CEO and co-founder.