NEW YORK, Aug. 30, 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 the Company held an operations update video conference call on August 20, 2021. It was attended by CEO Shanchun Huang, COO Yang Liu, CIO Xiaochen Zhao, Head of FTFT's Future Commercial Group Ltd. Jie Han, and Honorary Chief Economist of the Company Dr. Finn E. Kydland, Nobel Laureate in Economics.
Future FinTech COO Yang Liu hosted the call and commented on FTFT's recent operations, "As of mid-August, we have made significant progress in implementing our global strategic plan. We completed the acquisition of Hong Kong-based Nice Talent Asset Management Limited ("NTAM"), incorporated a new subsidiary, Future Fintech Digital Capital Management LLC ("Future Fintech Digital Capital"), in Connecticut, established an R&D center -Future FinTech Labs Inc. ("Future FinTech Labs") in New York, registered a new subsidiary FTFT Capital Investments LLC ("FTFT Capital Investments") in Dubai, and incorporated a new subsidiary -FTFT UK Limited ("FTFT UK") in United Kingdom, as an operating base to develop fintech business in Europe."
As a core element of its strategic plan, FTFT plans upon developing an array of diversified financial products and services for global institutional investors and high net worth investors through its subsidiaries which are approved to provide such services. To achieve this goal, the Company plans upon forming an operational matrix to include Future FinTech Labs, Future Fintech Digital Capital, FTFT Capital Investments, FTFT UK, NTAM and other subsidiaries with appropriate licenses to provide such services. Through the integration of its R&D center, institutional investment management and fintech, the Company intends to become a leading financial services firm that provides users with a wide range of personal online financial products and services. It is planned that these will include mobile payments, international transfers, wealth management services, member rewards, and other non-traditional proprietary applications that we believe will positively disrupt the financial services sector.
The Company believes that its core competency through its blockchain application capabilities, strong technical team and deep experience in blockchain projects provides superior support for its asset management and online financial services businesses as well as for future business development.
FTFT Honorary Chief Economist Dr. Kydland Supports Company's Corporate Strategy
Dr. Kydland expressed support for the Company's strategic plan of its financial services business. Dr. Kydland observed that FTFT's core plans in online financial services will enable it to succeed at its highly enterprising initiative to disrupt traditional banking by using financial technology and that this course represents the direction of future financial services.
Dr. Finn E. Kydland commented, "I am optimistic about the competitive prospects of FTFT's use of cutting-edge financial technology and its applications for the traditional banking business. I look forward to sharing my resources, knowledge and experience in the macroeconomic, financial and monetary fields, and applying research to help guide FTFT's assessment of the long-term trends of the financial industry to optimize the Company's strategic plan."
Dr. Kydland continued, "Although I could only meet the FTFT team by video conference, once the pandemic moderates, I will plan to visit FTFT offices in New York, Dubai, Hong Kong, London and Beijing, and conduct in-depth exchanges to facilitate the support of macroeconomic theory with the strategic direction of the Company."
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"), an incubator for blockchain based application projects, and supply chain financing and services. 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://www.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.
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