NEW YORK, June 28, 2021 /PRNewswire/ -- Future FinTech
Group Inc. (NASDAQ: FTFT)
("hereinafter referred to as "Future FinTech", "FTFT" or "the
Company"), a leading blockchain-based e-commerce business and a
fintech service provider, announced today that on June 24, 2021, it has registered a new
subsidiary, FTFT Capital Investments LLC ("FTFT Capital"), to do
business in Dubai, United Arab
Emirates. FTFT Capital intends to operate digital currency trading service and crypto asset
management businesses in Dubai.
UAE is a friendly country to blockchain technology and
cryptocurrency; since the beginning of 2021, the country has
introduced preferential policies to attract global blockchain
technology companies to establish operations in Dubai, an emerging international financial
center.
FTFT Capital will be positioning itself to become a full
financial service provider utilizing blockchain technology to build
a financial services platform to provide diversified financial
products to global institutional investors and high net-worth
investors. As previously disclosed in our press release on
March 18, 2021, the Company signed a
Strategic Cooperation Agreement (the "Agreement") with major
shareholders of Shenzhen SOSOB Technology Co., Ltd. ("Shenzhen
SOSOB") to incorporate a joint venture in Dubai. As we have incorporated FTFT Capital as our wholly owned subsidiary, the
parties plan to have FTFT Capital acquire 100% ownership of
Shenzhen SOSOB from its current shareholders. Shenzhen SOSOB
has more than eight years of experience in the digital currency
markets and it believes it to
be the world's largest digital currency market information
and data service platform of real-time asset and price information
for global users; according to Shenzhen SOSOB, its SoBitX platform
currently has more than 1.2 million
registered members
worldwide.
Shanchun Huang, CEO of Future
Fintech, commented, "Building a financial services platform based
on blockchain technology is a key development plan for our company.
We believe that the establishment of FTFT Capital Investments LLC
in Dubai will be a landmark event
in the field of innovative financial services. Utilizing the
expertise, technology and user base of Shenzhen SOSOB Technology
Co., Ltd., the leading firm in the digital currency trading service
sector, our goal is to become one
of the world's most active and influential digital currency and
crypto asset trading and management services provider."
About Future FinTech Group Inc.
Future FinTech Group Inc. ("Future FinTech", "FTFT" or the
"Company") is a leading blockchain e-commerce company and a
service provider for financial technology incorporated
in Florida. The Company's operations include a
blockchain-based online shopping mall platform, Chain Cloud Mall
("CCM"), a cross-border e-commerce platform (NONOGIRL) and an
incubator for blockchain based application projects. The Company is
also engaged in the development of blockchain based e-Commerce
technology as well as financial technology. For more information,
please visit http://ftft.com/.
Safe Harbor Statement
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, or the
Exchange Act. Forward-looking statements include statements with
respect to our beliefs, plans, objectives, goals, expectations,
anticipations, assumptions, estimates, intentions, and future
performance, and involve known and unknown risks, uncertainties and
other factors, which may be beyond our control, and which may cause
the actual results, performance, capital, ownership or achievements
of the Company to be materially different from future results,
performance or achievements expressed or implied by such
forward-looking statements. All statements other than statements of
historical fact are statements that could be forward-looking
statements. You can identify these forward-looking statements
through our use of words such as "may," "will," "anticipate,"
"assume," "should," "indicate," "would," "believe," "contemplate,"
"expect," "estimate," "continue," "plan," "point to," "project,"
"could," "intend," "target" and other similar words and expressions
of the future.
All written or oral forward-looking statements attributable
to us are expressly qualified in their entirety by this cautionary
notice, including, without limitation, those risks and
uncertainties described in our annual report on Form 10-K for the
year ended December 31, 2020 and our other reports and
filings with SEC. 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.
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SOURCE Future FinTech Group Inc.