SOS stock climbs after licensing software for digital asset exchange

SOS Limited (SOS) stock jumps 8.3% after the company takes preliminary steps to establish a digital asset exchange.Specifically, it entered a license to use a blockchain asset exchange software system made by a third party in exchange for a one-time licensing fee.Once the software is installed and operational, SOS expects to establish a digital exchange. It also plans to offer security and insurance services for digital assets."The digital asset exchange is an important part of our goal to provide blockchain services, digital asset security services and Decentralized Finance services," SOS Chairman and CEO Yandai Wang said in a statement.Keep in mind that SOS is a highly volatile stock that typically has wide swings in its stock price. In late February, the stock lost 58%, partly due to short-sale reports from Culper Research and Hindenburg Research, then swung up after refuting the allegations. It's still down from its peak in mid-February.