Chinese Hundson Technologies Invests in Symbiont

 Chinese Software firm Hundson Technologies, partly owned by Jack Ma founder of AliBaba has invested in startup Symbiont. Hundsun provides software services to financial institutions. The partnership between the two firms will see Hundsun opening up Symbiont’s smart contract software to its Chinese customer base. In particular, the partnership will focus on “[streamlining] business processes in both public and private securities markets”, according to Symbiont.

Guan Xiaolan, Hundsun’s executive president, explained why they invested in Symbiont, “We selected Symbiont because of its superior mature and highly differentiate DLT Stack.”