The shares of SOS Limited was once up 14% to $7.42 in Wednesday morning trading after announceing today that it has taken preliminary steps to establish a digital asset exchange.Now the rise eased to 4%
SOS Limited (NYSE: SOS) announced today that it has taken preliminary steps to establish a digital asset exchange. Specifically, the Company entered into a tailor-made license to use a blockchain asset exchange software system made by a third party in exchange for aone-time licensing fee.
Once the software is installed and operational, the Company expects to establish a digital asset exchange. The Company also intends to offer security and insurance services for digital assets. The Company's Chairman and Chief Executive Officer, Yandai Wang, commented "This is a key step in our blockchain and cryptocurrency strategy. The digital asset exchange is an important part of our goal to provide blockchain services, digital asset security services and Decentralized Finance (DeFi) services."