XI’AN, China, Jan. 4, 2018 /PRNewswire/ — Future FinTech Group Inc. (NASDAQ: FTFT) (“Future FinTech” “FTFT” or “the Company”), a financial technology company and integrated producer of fruit-related products, today announced that it received a 5% equity interest in Nova Realm Limited (“Nova Realm”), which has been gifted to the company by Mr. Yongke Xue, a Director of Future FinTech. Nova Realm is a blockchain technology research and development company registered in the United Kingdom. Nova Realm developed Nova Realm City (“NRC”), which it believes to be the first-ever blockchain technology value community registered with real name users and delivers asset-based digital services to global blockchain projects and provides a platform for members to communicate and participate in these projects. Mr. Yongke Xue personally acquired 60% of the equity interest of Nova Realm and has generously gifted 5% of which to FTFT.
Mr. Hongke Xue, Chief Executive Officer of Future FinTech, commented, “We are very grateful for the gift from Mr. Yongke Xue and are excited about this new opportunity to further explore our financial technology business which is a core element of our new strategic plan. We view the equity interest as an opportunity to engage the blockchain sector and to grow by leveraging this evolving technology. Our goal is to accelerate the application of blockchain technology and to bring practical blockchain technologies to the lives of real people.”
“With my gift of the equity stake, I believe that the Company will be able to access Nova Realm City’s technical expertise and knowhow in blockchain cryptography, with the ability to select promising projects for the application of blockchain technology. I believe that Future Fintech will be able to utilize Nova Realm City’s technical capabilities with its advantages as a public company to develop blockchain applications which will create a competitive advantage for the Company in the fintech sector,” said Mr. Yongke Xue, a Director of Future FinTech.
In recent years, as an Internet database technology, the Company believes that blockchain has become a highly attractive niche in the innovation and application of information technology due to its unique mechanism of securing trust among partners as well as its application in many industries.
The Company believes that blockchain technology is just beginning to scale and is currently attracting a high degree of global focus and attention as more and more industries seek to utilize its digital ecology and revolutionary capabilities. The Company believes that the unique features of the Nova Realm City community validates FTFT’s equity position in Nova Realm. These include the community’s core values of equality, mutual benefit, openness and transparency in terms of its blockchain utilization.
“We believe that blockchain technology is a disruptive technology that will change the way that companies and people interact, and we welcome the challenges and opportunities of this new platform,” Mr. Hongke Xue, Chief Executive Officer of Future FinTech concluded.