In a move signaling blockchain technology’s continued advancement in the financial world, Hong Kong–based PrivateMarket.io and NY-based Symbiont announced an agreement to build an alternative investment marketplace for closed-end funds utilizing Symbiont’s SmartSecuritiesTM software. The parties anticipate that the marketplace will go live in late 2017.
PrivateMarket’s strategic intent is to ensure that a new generation of wealth managers are able to access, analyze and seamlessly execute primary and secondary market transactions online. Through technology, they deliver concrete solutions that foster a more transparent and efficient private capital market ecosystem.
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