The fintech company Symbiont.io has filed for bankruptcy protection

ChainCatcher news, according to documents submitted to the U.S. Bankruptcy Court for the Southern District of New York, New York fintech company Symbiont.io filed for Chapter 11 bankruptcy protection on December 1, with assets and liabilities between $1 million and $10 million.

The company, originally named Math Money FX, was founded in 2013 with the aim of helping financial institutions "reduce risk, save costs, and improve efficiency" using the Bitcoin blockchain. Symbiont had previously partnered with large institutions such as index fund giant Vanguard. Just a few months ago, SWIFT, which helps banks transfer funds across borders, announced it was piloting a blockchain project using Symbiont's technology. (CoinDesk)