HONG KONG, June 8, 2021 /PRNewswire/ --CLPS Incorporation
(Nasdaq: CLPS) ("CLPS" or "the Company"), today announced that it
has formed a joint venture with Columbus Century Development Co.,
Pte. Ltd. ("Columbus"), a blockchain technology solutions provider.
The joint venture aims to develop and upgrade blockchain-based
digital asset solutions for financial institutions. Such digital
asset solutions include custody, exchange, payment, and
non-fungible token (NFT) distribution platforms, particularly in
wealth management and various investment transactions, among
others.
On June 4, 2021, CLPS, through its
wholly owned subsidiary, Growth Ring Ltd., entered into a
shareholder agreement with Columbus (the "Agreement"). Pursuant to
the Agreement, both parties have agreed to establish a British Virgin Islands joint venture company
("Joint Venture") within 30 days after the signing, and will
eventually plan to set up wholly owned subsidiaries in Hong Kong
SAR and Hainan. Upon closing of
the transaction, CLPS and Columbus will hold 55% and 45% of the
Joint Venture's shares, respectively.
The rapid growth of digital assets in recent years has led to
the increased demand for professional and compliant digital asset
management platform among traditional banks and financial
institutions, which can be leveraged for potential business
opportunities under a stringent digital embedded supervision. Under
the joint venture arrangement, Columbus' blockchain-based digital
asset solutions will be deeply integrated into CLPS's big data and
cloud computing technologies to accelerate the engagement of
traditional banks and other financial institutions in the digital
asset platform. With this strategy, it will significantly reduce
the financial institutions' independent development and operational
costs.
Following the integration of the combined business, the upgraded
solutions will be comprised of digital asset platforms suited for
financial institutions such as the management and custody service
platform, trading and settlement platform, exchange platform, smart
contract deployment protocol and testing services, next generation
decentralized and distributed services, and NFT distribution
platform.
Mr. Chong Zhang, Technical
Director of the Joint Venture, said: "With the respective
competitive advantages of CLPS and Columbus in financial industry
and blockchain technology coupled with the growing demand for
blockchain-based digital asset management solutions from global
financial institutions, we are well-positioned to accelerate our
research and development efforts to provide financial institutions
the emerging technology solutions in advancing their business and
technological innovation."
Ms. Jing Zhao, Senior Vice
President of CLPS Innovation Lab, said, "Our cooperation with
Columbus will open a wider perspective for technology and product
innovation. Aside from the performance optimization of our
blockchain-based loyalty rewards program and training systems, this
cooperation can also promote the integration of digital assets and
blockchain technology to our credit card, loans, and other
financial products, which will allow more efficient service
delivery to our clients."
Mr. Henry Li, Chief Operating
Officer of CLPS, said, "We continue to promote our 'dual-engine'
development strategy by accelerating the improvement of our
technology and product capabilities while maintaining the organic
growth of our traditional business. We continuously improve our
competitiveness in financial products by combining independent
research and development with investment and acquisition. For the
first time, the establishment of the joint venture company with a
focus on blockchain technology will further enrich our
technological strength. It also marks an important milestone in our
digital transformation and innovation initiatives."
Mr. Raymond Lin, Chief Executive
Officer of CLPS, said, "We are excited about this joint venture
which will enable our clients in the financial sector to welcome
the benefits of digital asset products, while we continue to
strengthen our competitive advantage in the IT services industry,
client base, and partners. We expect that it can bring new
opportunities for our growth as we contribute to the digital trend
of global finance."
About CLPS Incorporation
Headquartered in Hong Kong, CLPS Incorporation (the
"Company") (Nasdaq: CLPS) is a global leading information
technology ("IT") consulting and solutions service provider
focusing on the banking, insurance, and financial service sectors.
The Company serves as an IT solutions provider to a growing network
of clients in the global financial service industry, including
large financial institutions in the
US, Europe, Australia, Southeast Asia and Hong
Kong SAR, and their PRC-based IT centers. The Company maintains 19
delivery and/or research & development centers to serve
different customers in various geographic locations.
Mainland China centers are located
in Shanghai, Beijing, Dalian, Tianjin,
Baoding, Xi'an,
Chengdu, Guangzhou, Shenzhen, Hangzhou,
and Hainan. The remaining eight global centers are located in
Hong Kong SAR, USA,
UK, Japan, Singapore, Malaysia, Australia,
and India. For further information regarding the Company,
please visit: https://ir.clpsglobal.com/, or follow
CLPS on Facebook, LinkedIn,
and Twitter.
Forward-Looking Statements
Certain of the statements made in this press release are
"forward-looking statements" within the meaning and protections of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements include statements with respect to the
Company's beliefs, plans, objectives, goals, expectations,
anticipations, assumptions, estimates, intentions, and future
performance. Known and unknown risks, uncertainties and other
factors, which may be beyond the Company's control, may cause the
actual results and performance of the Company to be materially
different from such forward-looking statements. All such statements
attributable to us are expressly qualified in their entirety by
this cautionary notice, including, without limitation, those risks
and uncertainties related to the Company's expectations of the
Company's future growth, performance and results of operations, the
Company's ability to capitalize on various commercial, M&A,
technology and other related opportunities and initiatives, as well
as the risks and uncertainties described in the Company's most
recently filed SEC reports and filings. Such reports are available
upon request from the Company, or from the Securities and Exchange
Commission, including through the SEC's Internet website
at http://www.sec.gov. We have no obligation and do not
undertake to update, revise or correct any of the forward-looking
statements after the date hereof, or after the respective dates on
which any such statements otherwise are made.
Contact:
CLPS Incorporation
Rhon Galicha
Investor Relations Office
Phone: +86-182-2192-5378
Email: ir@clpsglobal.com
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SOURCE CLPS