SOS Limited (NYSE: SOS) stock surged 108.72% to $3.59 in an extended-hours session after it revealed that Dr. Eric H. Yan, an expert in cryptocurrency mining, security, and insurance technologies, has been engaged in an employment agreement with SOS Limited (SOS). SOS expects Dr. Yan to leverage his expertise in cryptocurrency mining, protection, and insurance to lead a new business focused on blockchain-based security and insurance, a strategic upgrade in existing portfolios of products and services at SOS. Shortly, SOS plans to establish a wholly-owned subsidiary called SOS Digital Technologies Inc. under Dr.Yan’s direction.
In China, Dr. Eric H. Yan has proven his blockchain security expertise for cryptocurrencies and digital assets. Seven patents have been filed by Dr. Yan in China pertaining to decentralized cryptocurrency exchanges, protections and insurance for digital assets and cryptocurrencies both large and small, and security frameworks based on blockchain. Dr Yan cofounded Shenzhen eSecureChain Technologies Inc, a company that provides e-wallets, exchanges, and crypto mining.
SOS predicts that it will rely on its new entity, led by Dr. Yan, to provide the infrastructure services for blockchain security to support its big data insurance marketing and rescue services and even offer insurance and banking services for digital assets and cryptocurrencies.
Recent Past Developments…
The high-tech firm, which supplies its members with a wide range of data processing services and marketing consulting, revealed on December 29, 2020, that it has entered into a strategic cooperation agreement with Zhonglu Property and Casualty Insurance Co Ltd.
In the previous close, SOS Limited (NYSE: SOS). Shares were trending higher at 23.74% t 1.72, as 60.559M worth company stock price went up to $2.04 and dropped to $1.43 during the last session.