Catalist-listed Anchor Resources has received approval from shareholders to expand beyond its core mining business into the fintech sector, as well as to change its name to VCPlus.

According to an SGX filing dated April 29, the company intends to provide “custodian services” for digital assets. Customers will be able to keep digital assets with the company, which will use safe key management to ensure the assets are secured cryptographically.

Besides the custodian business, the company also plans to provide consultancy services with regards to fintech regulation, licencing, as well as the adoption of fintech strategies and technology.


SEE:Anchor Resources assigns concession rights at Bukit Machang Assets to Austral Mineral Berhad for purchase price of $3.3 mil


On its existing mining segment, the company says it is planning to commence the development of its granite business and will continue to source for joint ventures to operate its existing mines.

Want our latest Singapore corporate news stories for FREE

Follow our Telegram, Facebook for the latest updates round the clock

Clarence Chong, CEO of the company, says “While we try to revitalise our legacy mining business in a challenging environment, we today have the opportunity to enter the fast-growing fintech industry to improve our financial position and unlock shareholder value. We aspire to be  one of the leading companies in the financial technology and blockchain technology sector.”

Shares in Anchor Resources closed down 0.1 cents or 3.33% lower at 2.9 cents.