Gemalto, the leading digital security provider, and Symbiont, a company offering blockchain solutions for capital markets, have announced their partnership forged to protect blockchain-powered securities. 

Symbiont, the platform that positions itself as “bridging the gap between the emerging blockchain ecosystem and Wall Street,” pioneered in digitising financial instruments onto a distributed ledger technology that is called “Smart Securities”. As CoinFox reported earlier, the first Symbiont’s smart security was issued in the beginning of August 2015. This technology enables businesses, investors and financial institutions to use an encrypted peer-to-peer financial network to automate and secure different market processes: primarily, financial instruments' issuance, authentication, management and trading.

Gemalto, an Amsterdam-headquartered digital security provider, offers a wide range of solutions in different spheres, including enterprise security, the Internet of things, e-Government, online business, financial services and retail.

Together with Symbiont, Gemalto will work on securing smart contracts execution and securities issuance, as well as on other blockchain-based operations like identities verification. For this end companies are planning to employ Gemalto’s SafeNet Hardware Security Modules (HSMs). These are powerful cryptographic processors created to protect encryption keys, thus preventing blockchain-based securities from theft, falsification and other related crimes.

“No corners can be cut in securing information in the ‘distributed trust’ environment enabled by blockchain technology,” said Louis Stone, Managing Director at Symbiont. “To seize the opportunity in capital markets, each facet has to be best-of-breed. The combination of Gemalto's industry-leading HSMs and Symbiont's Smart SecuritiesTM delivers just that.”

In June 2015 Symbiont raised $1.25 million from Wall Street investors, which was the sign of growing interest towards the distributed ledger technology from Wall Street players.

Anna Lavinskaya