UAE - Mubasher: China-based Future FinTech Group (FTFT), a blockchain-based e-commerce business and a fintech service provider that is listed on Nasdaq Stock Market, has established a new subsidiary to do businesses in Dubai.

FTFT Capital Investments (FTFT Capital) will manage digital currency trading services and crypto asset management businesses in Dubai, according to a recent press release.

The new subsidiary will also deploy blockchain technology to build a financial services platform to offer diversified financial products to global institutional investors and high net-worth investors.

In March 2021, FTFT inked a strategic cooperation agreement with major shareholders of Shenzhen SOSOB Technology Co, which has over eight-year experience in the digital currency markets, to form a joint venture in Dubai.

As FTFT has launched its wholly-owned subsidiary in Dubai, the company plans to have FTFT Capital acquire 100% ownership of Shenzhen SOSOB from its current shareholders.

FTFT has benefitted from the UAE's policies which aim to attract global blockchain technology companies to establish operations in Dubai, an emerging international financial centre.

The CEO of Future Fintech, Shanchun Huang, said: "Utilising the expertise, technology, and user base of Shenzhen SOSOB Technology Co., 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."

Source: Mubasher

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