Peak Positioning Technologies Inc. (CSE: C.PKK, PKKFF, Forum) on Thursday said it has entered a memorandum of understanding with Cubeler platform lender Jiu Dong Ltd. to create a financial services subsidiary to be named Asia Synergy Financial Capital (ASFC).
ASFC would be established in the city of Wuxi and meet, among others, the minimum required capital of 100 RMB (about $20 million Canadian), as prescribed by the Wuxi Municipal Financial Affairs Office, in order to operate as a fully-licensed financial services company in all of China.
More information can be found here.
Peak Positioning was in the news recently when the company said it had teamed up with Zhong Yin Law Firm to launch a new service aimed at reducing the risk of making commercial loans in China.
“The new service called Gold Legal is similar to an insurance policy made available exclusively to registered Cubeler platform lenders to protect them against potential loan defaults,’’ the company said.
