Ipreo, Symbiont Combine Forces to Tackle Syndicated Loans Market

New company looks to implement blockchain-based solution to deal with settlement of loan trades.

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Robby Dermody, Symbiont co-founder

Financial technology vendor Ipreo and Symbiont, a startup focusing on blockchain technologies, announced they are creating a new company that will focus on disrupting the syndicated loans market. The new firm, which has not been named yet, will bring together Ipreo's loan settlement platform, LTS, and Symbiont's experience in the blockchain space and its "SmartLoans," which are smart contracts for the loan market. Joe Salerno, who heads up Ipreo's loan trade settlement business and will serve