Potential acquirers are exploring buying the assets of enterprise blockchain firms Marco Polo and Symbiont, which both still have operational blockchain platforms. Marco Polo’s active clients include Commerzbank and others, and Symbiont developed a blockchain platform for index data that Vanguard has been using for years.
Trade finance platform Marco Polo formally entered insolvency in Ireland two weeks ago, whereas blockchain fintech Symbiont entered Chapter 11 in the United Stated more than three months ago. Both firms boasted systemically important banks as backers and clients.
In Marco Polo’s case, the largest shareholders were not banks, but ING, BNP Paribas and SMBC had significant stakes. Marco Polo raised $95 million and Symbiont $53 million before their bankruptcies.
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