Symbiont brings the blockchain to mortgagetech
Blockchain and smart contract technology firm Symbiont has teamed up with Ranieri Solutions to explore ways to use its smart contract platform to “systematically improve all aspects of the mortgage industry,” writes David Penn at Finovate.
Ranieri Solutions is a financial services technology investment firm founded by securitised mortgage market pioneer Lewis Ranieri.
The firm sees an opportunity to combine its own knowledge and experience in the mortgage market with Symbiont’s innovations in enterprise blockchain networks.
“When Symbiont was founded, it was my dream and vision to develop decentralised technology solutions that could solve the root problems that were at the heart of the financial crisis,” Symbiont CEO Mark Smith says. “Blockchain and smart contract technology is proving to be that solution.”
In December, Symbiont partnered with Vanguard and the Center for Research in Security Prices to use blockchain technology to simplify index data sharing between index providers and market participants.
Founded in 2014 and headquartered in New York, Symbiont has raised more than $15 million in funding and includes Celeridem Capital Management and SenaHill Partners among its investors.
