Simetria

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INNOVATIVE DIGITAL SOLUTIONS TO ILLIQUID ASSETS

History

Simetria was incorporated In Israel in October 2020. It was founded by Ziv Keinan and Ami Ben David with a vision to set up the first private digital market place for alternative assets out of Israel. In December 2020 Dr. Ilan Steiner, former Director of Currency at the Bank of Israel joined as COO and co-founder as well as Ariel Weiss who joined as CTO and co-founder. Simetria's first significant milestone was achieved in February 2021 when the Israel Securities Authority issued a precedential non action letter that grants Simetria a green light to operate. In March 2021 Simetria unveiled its first demo at the Global Securities Token Summit. Simetria is backed by Tim Draper who led the seed investment round in Simetria via Draper Goren Holm VC (DGH) alongside additional investors that include Swiss blockchain VC Blufolio. In May 2021 the leading Blockchain company Algorand announces partnership with Simetria and joins the investment round.

Product

Simetria uses DLT to introduce a digital market for private assets that benefits both companies, employees, founders and even VCs that are looking to meet liquidity. In order to do so, the Simetria platform offers a variety of financial tools:

Signals - A simple indication of interest process that allows the companies and investors to communicate prior to an investment in a discrete and streamlined process. The signals can be incorporated as part of a bidding process that is designed to facilitate price discovery.

RFQ (Request-for-Quote ) DLT Trading Protocol- a fast and effective protocol to drive liquidity for less liquid assets. By using the RFQ protocol, stakeholders and traders take full control over the offering process. RFQ allows for parallel negotiations with multiple counterparties in real-time, without leaking information to the whole market about the transaction and the identity of the seller.

Market - An open market bulletin board in which private companies and investors can trade their assets in. Investors can find and learn about each company participating in the board, see the terms of the company’s offer and decide whether they want to invest in the company.

CRFP (TM) - offers companies to sell Cash Rights for Future Proceeds (CRFP TM) instead of selling the equity itself. This innovation has tremendous value to private companies that wish to maintain full control over their equity.

Ownera integration - Simetria is part of the Owneras’ FinP2P network of the world’s largest financial institutions. By integrating with the network Simetria can exponentially increase our reach for investors that already work with blockchain technology.

Algorand Blockchain - Simetria's DLT is powered by Algorand Blockchain, an open-source, carbon-negative, decentralized blockchain network. Algorand leverages a two-tiered structure and a unique variation of the Proof-of-Stake (PoS) consensus mechanism to increase transaction speeds and achieve finality.

Security & Privacy by design - In order to achieve this statement Simetria uses: Multi-Factor Authentication, Encrypted In-App Communication, Decentralized Asset Management, Secure Multi-Party Computation (MPC), And of course, Simetria is GDPR Compliance.

MVP - Our MVP focuses on the feature that enables signals (discrete secondary market) between companies and investors and also between investors and employees directly. This feature is already integrated into Algorand Blockchain.

Compliance oriented - Simetria's product is fully compliant and regulated by the Israeli Securities Authority. Simetria is the first digital exchange in Israel to receive a non action letter from the Israel Securities Authority which allows it to launch.

Team

Updates

  • May 2021: Simetria initiates discussions with Bank of Israel, BIS and other central banks regarding CBDC and digital securities.
  • May 2021: Simetria presents its unique private market solution at the global AIBC conference in Dubai.
  • June 2021: Israel Securities Authority Chairwoman and senior staff meet with Simetria to discuss introduction of digital securities in the Israeli market
  • June 2021: Israel's new Government is expected to pass designated exchanges legislation together with the budget law in Israel.
  • June 2021: Simetria unveils its vision for the next digital securities exchange from Israel at Crypto TLV conference.
  • July 2021: Simetria launches go to market phase and engages with design partners among leading Israeli private tech companies.
  • July 2021: Simetria is proud to onboard CDL bootcamp.

Competitive Landscape

SimetriaCL.png

Simetria stands out in the local competitive landscape in Israel, since no other entity holds regulatory approvals from the local regulators. The non action letter Simetria received from the Israel Securities Authority grants Simetria a unique position in the market. As of July 2021 Simetria has no direct competition in Israel. Direct competition exists overseas, from companies such as EquityZen, CartaX, Nasdaq Private Market and Forge.

Goals/Results

Simetria has Goals/Results stored in its entry in the Yugenpedia Vault. If you are a qualified investor interested in receiving access, please contact the Yugenpedia staff.

SWOT

Simetria has a SWOT analysis stored in its entry in the Yugenpedia Vault. If you are a qualified investor interested in receiving access, please contact the Yugenpedia staff.

See Also

References

  • Simetria gets a green light by the Israeli Securities Authority [1];
  • Simetria Partners with Algorand [2];
  • Draper invests in Simetria [3];
  • Israel's director of currency joins Simetria [4];
  • Israel is moving closer to a digital shekel — now Simetria needs to link it to digital securities[5]

External Links

Simetria website [6]