Florida Bank Backs Blockchain Startup

Florida Bank Backs Blockchain Startup

Atlantic Merchant Capital Investors a private merchant bank and advisory services firm based in the Tampa Bay area has ramped up it’s investment in startup technology companies. Atlantic Merchant has invested in 20 companies to date and hopes to make that number top 100 in 10 years time.

But now the progressive merchant bank is tipping the scale in terms of the newest financial technology, fueling the likes of Bitcoin. Blockchain is the public ledger of transactions for cryptocurrencies, and the focus of many present day startups.

To many though, Bitcoin and Blockchain are the first technologies to really come along and disrupt the banking and financial industries since the credit card or ATM machine. If you think about that for a second, that’s huge.

Typically financial advisors, bankers and money managers are all on the conservative side, erring on the side of not doing too much to rock the boat. If it ain’t broke don’t fix it.

Now though, some banks are seeing the value in the Blockchain and see that cryptocurrencies could be here to stay. On an international level, Barclays has partnered with Techstars for a FinTech or financial technology accelerator both in the US and in England.

Nationally, Atlantic Merchant has invested in Symbiont a Blockchain company that should be very influential in bridging the gap between more traditional financial institutions and the technology that sits behind the wall of the Blockchain.

“What differentiates Symbiont from a growing number of competitors is that the startup is looking to work with the existing financial system, rather than replace them.” said. 

Symbiont realizes that many financial institutions are ambivalent about getting involved with Bitcoin so they’re developing several non-digital currency ledgers.

Symbiont and their CEO Mark Smith realize the value in partnering with a more traditional financial institution.

“ We are also excited about the opportunity to work with Shiv Govindan and Jeff Hunt [principal at Atlantic]. They bring more than capital to the table.” Smith said in a statement.

Atlantic Merchant echoed the same theme: “We are very excited to have the opportunity to back Mark Smith and his executive team in this exciting financial technology venture. We think the company’s technology suite and IP will provide the industry with valuable solutions across a wide spectrum of assets.  Mark has assembled a world-class team and board to help him execute his plan.  We appreciate the opportunity to participate in this company at such an early stage.” Allan Martin, Atlantic Merchant Capital Investors CEO said.

It’s company’s like Symbiont that will bring Bitcoin and the Blockchain into the mainstream.