Chinese Firm Future FinTech Takes 5% Stake in Blockchain Tech Startup Nova Realm

Future FinTech Group Inc. (NASDAQ: FTFT), a Chinese fintech company and integrated producer of fruit-related products, today announced that it received a 5% equity interest in Nova Realm Limited. Nova Realm is described as a blockchain technology research and development company registered in the UK The company developed Nova Realm City (NRC), which is claimed 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.

Yongke Xue, a Director of Future FinTech, personally acquired 60% of the equity interest of Nova Realm and has generously gifted 5% of which to FTFT. Hongke Xue, CEO of Future FinTech, stated:

“We are very grateful for the gift from 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.”

Yongke also commented:

“With my gift of the equity stake, I believe that the Company will be able to access Nova Realm City’s technical expertise and know-how 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.”

Hongke added:

“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.”

 

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