LM Funding America's $2.6M bid for Symbiont.io assets approved

LM Funding America ( NASDAQ: LMFA ) said Tuesday its $2.6M stalking horse bid to buy the assets of Symbiont.io, which filed for Chapter 11 bankruptcy protection last year, was approved by the bankruptcy court . The company was the sole secured creditor for Symbiont as a result of a $2M secured loan, and has now acquired its assets with a credit bid. "We intend to pursue strategic relationships to offer financial services blockchain enterprise platform Assembly to institutions," said LM Funding ( LMFA ) CEO Bruce Rodgers. "We also plan to explore other use cases for the Symbiont assets and Assembly platform." LM Funding's ( LMFA ) bid was expected to be approved as it was unopposed.