SOS

SOS Limited (NYSE: SOS) is a company that has been making significant strides in the blockchain and cryptocurrency sectors. Formerly known as Xin Er Fu, SOS has transitioned from its origins to become an emerging provider of blockchain and big data-driven marketing and solutions. The company has a substantial membership base in China and has been actively expanding its operations to include cryptocurrency mining, security, and insurance services.

SOS has announced the employment of Dr. Yan Hua Zhong (Eric H. Yan), a blockchain expert with several patents related to decentralized cryptocurrency wallets and exchanges, as well as protection and insurance technologies for digital assets. Under Dr. Yan's leadership, SOS plans to establish a new subsidiary, SOS Digital Technologies Inc., which aims to apply blockchain security and insurance technologies to protect cryptocurrencies and digital assets.

The company has also signed a letter of intent to acquire FXK Tech, a Canadian company specializing in blockchain technology consulting and the operation and support of cryptocurrency exchanges and cloud mining services. This move is set to extend SOS's ecosystem and expand its reach into North America.

SOS's entry into the cryptocurrency market includes a focus on providing secure and insured services for digital assets, addressing the significant risks associated with the loss or theft of cryptocurrencies, which reportedly occurs at a rate of about 20% annually. The company is positioning itself to potentially launch the world's first digital asset insurance company and cryptocurrency bank, pending the development of robust protection and insurance technologies for digital assets and cryptocurrencies.

SOS's initiatives reflect a strategic transformation towards leveraging blockchain technology to secure and grow its presence in the digital currency market, aiming to provide innovative solutions to the challenges faced by the industry.