CLPS Incorporation Announces Scenario-Based Digital Currency Application Solution to Facilitate Digital Economy Development

Rhea-AI Summary

CLPS Incorporation (Nasdaq: CLPS) announced the launch of a scenario-based digital currency application solution aimed at aiding financial institutions in enhancing their digital economy capabilities. This initiative is a response to the growing demand for digital currency ecosystems, particularly in China, where the digital RMB is gaining momentum. The solution integrates various financial services, enabling institutions to adopt digital currency more rapidly. CLPS plans to customize the solution for clients, targeting increased market penetration and customer acquisition.

Positive

• Launch of a scenario-based digital currency application solution to aid financial institutions in digital economy growth.
• Opportunity for CLPS to penetrate the fast-expanding digital RMB ecosystem in China.
• Solution customization based on client demands to enhance market penetration and customer acquisition.

Negative

• None.

HONG KONG, May 10, 2022 /PRNewswire/ -- CLPS Incorporation (the "Company" or "CLPS") (Nasdaq: CLPS), today announced the launch of its scenario-based digital currency application solution, which aims to enable financial institutions to drive growth in the digital economy.

Gaining traction in the recent years, global financial institutions have accelerated the creation of financial ecosystems that can support digital currency, which led for CLPS to launch such solution. This solution leverages CLPS's global services delivery capability and its expertise in banking, e-commerce, payment, risk control, digital marketing, and mobile development, among other areas. In addition, by integrating bank-enterprise interaction, smart contract, aggregate payment, retail settlement, supply chain management, marketing and promotion as an end-to-end service platform, a trading platform based on digital currency payment scenarios can be developed, helping financial institutions accelerate adoption and widespread use of digital currency.

A key strategic target of the People's Bank of China, digital RMB has achieved significant progress in terms of application scenarios, transaction volume, number of accounts opened, and an expanded pilot scheme to more areas. Launching the pilot version of digital RMB application in major app stores, its introduction at the Beijing 2022 Winter Olympics, and its intended use in the 19^th Asian Games all indicate that digital RMB are becoming more mature.

Through this solution, CLPS will be able to facilitate Chinese financial institutions create a better digital RMB application ecosystem, penetrate the market opportunity quickly, and expand customer acquisition channels. In addition, the solution can be customized based on corporate client's demands, enabling a wide range of application scenarios.

Mr. Jingwei Sun, Vice President of CLPS and Head of Digital Currency Solution, said, "The scenario-based digital currency solution will allow global financial institutions to build an ecosystem around digital currency that include services such as system development, system operation and maintenance, digital marketing, and merchant expansion. We are looking forward to working with our global partners to explore scenario-based digital currency application scenarios and offer users a secure, convenient, and seamless financial services experience."

Mr. Henry Li, Chief Operating Officer of CLPS, said, "Going forward, CLPS will further participate in various pilot schemes of digital currency, develop products that serve more scenario-based applications, and introduce new scenarios for digital currency payment experience that will contribute to the development of global digital economy."

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, Japan, Singapore, Malaysia, Australia, India, and the Philippines. For further information regarding the Company, please visit: https://ir.clpsglobal.com/, or follow CLPS on Facebook, Instagram, 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 

View original content:https://www.prnewswire.com/news-releases/clps-incorporation-announces-scenario-based-digital-currency-application-solution-to-facilitate-digital-economy-development-301543595.html

SOURCE CLPS

FAQ

What is CLPS's new digital currency application solution about?

CLPS's new solution is a scenario-based digital currency application that aims to assist financial institutions in developing digital economy capabilities.

How does CLPS's solution help in the digital RMB ecosystem?

The solution is designed to facilitate Chinese financial institutions in creating a better digital RMB application ecosystem, helping them penetrate the market quickly.

What are the future plans for CLPS regarding digital currency?

CLPS aims to further participate in pilot schemes of digital currency and develop products for more scenario-based applications.

When was CLPS's digital currency application solution launched?

CLPS announced its digital currency application solution on May 10, 2022.

Which financial sectors does CLPS target with its digital currency solution?

CLPS targets banking, e-commerce, payment, and other sectors in its digital currency solution.