Shares of SOS Limited (SOS), a China-based technology company, are surging almost 120 percent or $2.06 in Thursday’s morning trade at $3.78.
Wednesday, SOS said it entered into an employment agreement with Dr. Eric Yan, an expert in cryptocurrency mining, security and insurance technologies. The company expects Dr. Yan to lead SOS’s efforts to set up a new business to apply blockchain-based security and insurance technologies to safeguard cryptocurrencies and digital assets, and to also strategically upgrade SOS’s existing portfolios of products and services.
SOS said it plans to set up a new wholly owned subsidiary SOS Digital Technologies Inc., to be led by Dr Yan. Once SOS Digital Technologies Inc is created, SOS plans to launch the first digital assets insurance company and the first cryptocurrency bank in the world, backed up by Dr Yan’s technologies.
SOS has traded in a range of $0.51 to $4.77 in the past 52 weeks.
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