Future FinTech Enhances Blockchain Division for Strategic Growth and Innovation

Future FinTech Updates Blockchain Division

On December 2, 2024, Future FinTech Group Inc. (NASDAQ: FTFT), a leader in financial and digital technology services, unveiled a significant update to its Blockchain Business Division. Initially established in December 2021, the division aims to effectively manage and grow the company's blockchain initiatives while implementing a strategic growth plan that aligns with the company’s vision of innovation in the field.

The new direction for the Blockchain Business Division emphasizes the exploration and growth of diverse blockchain ventures, particularly in high-performance computing, web3 technologies, artificial intelligence (AI), and other related projects. In addition to developing new services, the division remains committed to the management of its existing business operations, enhancing business synergies, and executing its strategic growth initiatives.

Li Hu, Future FinTech’s CEO, expressed the company’s ambition: "We are actively developing a comprehensive range of digital financial products and services by leveraging AI to amplify our influence in the web3 sector, a transformative phase of the internet powered by blockchain technology that empowers users. This revised mandate for our Blockchain Business Division strengthens our commitment to establishing ourselves as a leader in the blockchain domain."

To steer this ambitious direction, Mr. Kai Xu has been appointed President of the Blockchain Business Division. In his role, he will oversee the division's operations and engage in the expansion of web3 initiatives. Mr. Xu brings a wealth of experience in blockchain and big data, having previously served as COO of the company and held the vice president position within the Blockchain Division. Furthermore, he currently acts as the Deputy General Manager of FT Commercial Group Ltd., which is a wholly owned subsidiary of Future FinTech.

Meanwhile, Mr. Weifang Peng has been selected as Vice President of the Blockchain Business Division, where he will primarily be responsible for the company's blockchain computing power and web3 business development. Mr. Peng entered the Bitcoin mining sector in September 2015 and has amassed extensive expertise in the field, having led FTFT’s global mining investment efforts from 2021 to 2022.

The operations of Future FinTech are not limited to the Blockchain Division. The company operates a multi-faceted business model through its subsidiaries, offering an array of services such as asset management, brokerage, and investment banking in Hong Kong, cross-border payment solutions in the United Kingdom, and supply chain trading and finance initiatives in China. Recently, Future FinTech has also embarked on digital asset mining farm ventures in the United States, demonstrating its commitment to advancing financial services with cutting-edge digital and internet technologies.

For further information about Future FinTech and its extensive offerings, please visit www.ftft.com.

In summary, the recent updates and appointments within Future FinTech's Blockchain Division mark a key step toward enhancing the company’s position as a significant player in the emerging realm of blockchain technology. By focusing on innovative technologies and strategic initiatives, Future FinTech aims to deliver exceptional digital financial services and ensure a competitive edge in the evolving marketplace.