Everus to expand its business operations to Hong Kong

Everus to expand its business operations to Hong Kong

KUALA LUMPUR, 30th January 2019 – A Malaysian Blockchain company, Everus Technologies Sdn Bhd (“Everus” or “Company”) is pleased to announce that the Company will be expanding its business operations to Hong Kong with the intention of penetrating into the vast East Asia market.

Everus Founder and CEO, Srinivas Oddati said: “To create sustainable business prospects for Everus, we are currently taking steps to expand our business operations to Hong Kong. With its comprehensive set of regulations governing cryptocurrencies specifically safeguarding digital assets from theft and loss, we believe that Hong Kong will provide a long term strategic location to complement our global business expansion plan,”

“The regulations are set to benefit digital assets operators like us, to hold insurance and ensure our customers’ digital assets are well protected. It will boost investor protection and thus attract more traders to trade digital assets in Hong Kong,” he added.

“In addition, this will open the door for Everus in pursuing growth in the vast East Asia market. We are also open to potential partnership opportunities within the region to maximize deliverability for better services and better user experiences,” Srinivas Oddati added.

“Moving forward, we will be looking at opportunities to expand our business operations further into the European market. We are still in search of suitable strategic locations with high cryptocurrency value growth, hoping to benefit from greater flexibility. We will disclose specifics and make the necessary announcements as they are available.”

To recap, the Securities Commission Malaysia’s (“SC”) has entered a collaboration with Bank Negara Malaysia (“BNM”) to put in place guidelines to regulate digital asset offerings and trading in Malaysia. The Capital Markets and Services (Prescription of Securities) (Digital Currency and Digital Token) has on 15th January 2019 come into force, with certain interim requirements to meet. Everus had on 22nd January 2019 affirmed that the Company will fully comply and support the securities governing body to ensure compliance, and apply the requisite authorization from SC.

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