What is Symbol?
Symbol is a trusted and secure enterprise blockchain that smooths business friction, increasing the flow of data and innovation to supercharge the creation, exchange and protection of assets. Symbol is purpose-built to help businesses cut costs, reduce complexities, and streamline innovation.
Launched in March 2021, Symbol utilizes a unique hybrid (public/private) architecture, enabling businesses to benefit from the transparency that public chains offer, while also permitting data restrictions and encryption measures to be put in place for more confidential information. With major upgrades in flexibility, security, speed and ease of use, the Symbol platform is the best-in-class blockchain enterprise solution.
XYM is the native currency of the Symbol public blockchain, and is used as the core value transfer mechanism for the blockchain.
What is NEM Group?
NEM Group is a parent company designed to support the growth of the NEM ecosystem leading up to the launch of Symbol (NEM 2.0), NEM’s next generation enterprise blockchain and NEM NIS1, NEM’s original blockchain platform.
Formed in 2020 by a team of experienced leaders and enterprise experts, NEM Group is a streamlined commercial governance structure overseeing and coordinating the activities of NEM Software, NEM Trading and NEM Ventures, to ensure the delivery of Symbol and support the growth of the NEM ecosystem.
NEM Software focuses on product and business development; NEM Trading is responsible for all finances, including liquidity management, exchange support and token lending; and NEM Ventures is the venture capital and investment arm, focused on strategic partnerships.
NEM Group’s mission is to effectively coordinate and align efforts to foster the growth of a strong and healthy ecosystem that will contribute to the development of blockchain technology for generations to come.