22 July 2018
Visit www.gemalto.com

Smart contract specialist Symbiont scores investment from China's Hundsun Technologies

04 May 2017  |  4022 views  |  0 Source: Symbiont

Symbiont, the market-leading smart contracts platform for institutional applications of distributed ledger technology, today announced a strategic partnership with Chinese software giant Hundsun Technologies Inc, which includes an investment by a division of Hundsun in Symbiont’s Series A-1 round.

The investment is Hundsun’s first in both the United States and in distributed ledger technology. Symbiont’s board of directors granted Hundsun a board observer seat.

Hundsun is the dominant financial technology company serving China’s institutional securities, banking and insurance industries. Publicly traded on the Shanghai Stock Exchange, its market capitalization is approximately CNY 24 billion.

The strategic partnership brings Symbiont’s market-leading smart contracts software to Hundsun’s extensive customer base in China and Hong Kong, where the parties intend to streamline business processes in both public and private securities markets.

“We selected Symbiont because of its superior, mature and highly differentiated DLT stack. Its data layer is protected by market-leading security and privacy solutions, and its smart contracts have a proven ability to automate complex business logic, such as highly tailored employee compensation waterfalls for private companies,” said Guan Xiaolan, executive president of Hundsun.

“We are very pleased to have the backing of such a strong partner in Asia, and we look forward to working together on near-term opportunities,” said Mark Smith, CEO of Symbiont. “To have the support of such a prominent and respected partner is a clear vote of confidence for Symbiont.” 

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit info.nice.comVisit http://go.jumio.com/finextraAdVisit iliad-solutions.com/

Who is commenting?

Top topics

Most viewed Most shared
Calmejane quits Lloyds Bank to join SocGenCalmejane quits Lloyds Bank to join SocGen
13854 views comments | 7 tweets | 8 linkedin
Hong Kong plans September go-live for blockchain-based trade financeHong Kong plans September go-live for bloc...
11472 views comments | 9 tweets | 17 linkedin
Mastercard enlists Worldpay to push Vocalink's Pay by Bank appMastercard enlists Worldpay to push Vocali...
10245 views 19 comments | 15 tweets | 30 linkedin
IBM to test dollar-pegged 'stablecoin'IBM to test dollar-pegged 'stablecoin'
7633 views comments | 4 tweets | 14 linkedin
Bringing about new systems and faster payments globallyBringing about new systems and faster paym...
7497 views comments | 2 tweets | 7 linkedin

Featured job

to GBP £90K base, double OTE (estimate)
London, UK or Europe

Find your next job