Apr 26, 2021
ISRAEL -- APRIL 26 -- Simetria, an Israeli digital securities exchange that will soon be launched with regulatory approval, today announced a partnership with Algorand, a leading blockchain technology company accelerating the convergence of decentralized and traditional finance. The partnership comes on the heels of the reveal last week by Simetria Founder and CEO Ziv Keinan of the demo of the new DLT based platform which allows private companies to meet liquidity for the benefit of their employees, founders and VCs. Private companies and VCs are now able to onboard illiquid assets on Simetria and enjoy access to capital including Ownera’s FinP2P global network of financial institutions.
Simetria will be building its next generation securities exchange on Algorand as it looks towards leveraging advanced blockchain technology to disrupt market infrastructures with its innovative digital exchange. Algorand brings speed, scalability, and transaction finality needed for bridging the gap between traditional financial offerings and decentralized solutions. Simetria will be using Algorand to ensure its digital exchange is built from the ground up on the best available blockchain technology in order for the company to scale internationally.
Adv. Ziv Keinan, Simetria’s Founder and CEO: “We are excited to be working with Algorand to execute on our vision at Simetria and look forward to how our collective efforts will result in huge potential in the digital securities space. Private companies will soon be able to list digital securities for trade on Simetria’s platform to gain liquidity and raise capital --- all in a seamless manner on Algorand’s blockchain, which was purpose-built for this type of use.”
“We recognize Simetria’s leadership in the Israeli market and share an aligned vision of leveraging blockchain to expand opportunities and open new markets with blockchain-based solutions for private capital,” said Pietro Grassano, Business Solutions Director at Algorand. “We are excited to welcome them to the Algorand community as they launch their robust product in Israel and then internationally.”
Simetria is creating the first digital securities exchange that focuses on private Israeli technology companies. The revolutionary marketplace uses digital securities technology based on blockchain for this undertaking. Simetria received a preliminary ruling from the ISA which allows it to launch for the first time as a digital trading platform for securities, which includes a DLT settlement component in the system. Simetria allows Israeli companies to list shares on its platform which would then be offered to accredited investors in Israel and around the world.
Simetria is the first company in Israel prepared to launch a DLT-based digital securities exchange that transforms the end-to-end lifecycle of a private security for both primary issuance and secondary market trading. The exchange will be launched within the Israeli startup ecosystem first, with an international launch to follow. Simetria’s goal is to become the future trading infrastructure of Israel.
Algorand is building the technology to power the Future of Finance (FutureFi), the convergence of traditional and decentralized models into a unified system that is inclusive, frictionless, and secure. Founded by Turing Award-winning cryptographer Silvio Micali, Algorand developed a blockchain infrastructure that offers the interoperability and capacity to handle the volume of transactions needed for decentralized finance (DeFi), financial institutions, and governments to smoothly transition into FutureFi. The technology of choice for more than 500 global organizations, Algorand is enabling the simple creation of next-generation financial products, protocols and exchange of value. For more information, visit www.algorand.com.
For additional information please contact:
CEO Ziv Keinan, [email protected]