Future FinTech Group Inc., a leading comprehensive financial and digital technology service provider, announced today that its Board of Directors has authorized the establishment of the Company’s Real-World Asset Tokenization Division (the “RWA Division”). The RWA Division was created to (i) explore the technical paths and compliance feasibility for the Company to issue stablecoins and tokenize its core assets, (ii) initiate applications to regulatory authorities for compliance licenses and regulatory filings related to the issuance and circulation of stablecoins, and (iii) apply for all necessary compliance licenses based on the nature of RWA assets. This move marks FTFT’s official entry into a new stage of its integrated development of its RWA and stablecoins businesses under Web3.0 architecture.
Mr. Kai Xu, President of the Blockchain Division, has been appointed as President of the RWA Division, fully overseeing strategic planning and daily management of the division. Currently, the division will advance communications with U.S. regulatory authorities to apply for the relevant regulatory licenses for RWA and stablecoins, explore the feasibility of tokenizing the Company’s core assets or assets to be acquired, and coordinate the Company’s reserve crypto assets and digital asset trading business.
Ms. Jia Chen, Vice President of FTFT Securities, has been appointed Vice President of the RWA Division. She is mainly responsible for communicating with Hong Kong regulatory authorities and coordinating legal compliance, applying for additional virtual asset-related licenses on the basis of the original Hong Kong Type 1 and Type 4 licenses, applying for a Virtual Asset Trading Platform License (VATP), and applying for a Type 9 asset management license for both traditional and virtual asset management businesses.
Mr. Hu Li, CEO of FTFT, commented, “The Company’s next major initiative is to build a robust technical architecture for stablecoins issuance and management, and evaluate potential underlying assets to be acquired such as gold, Bitcoin and U.S. Treasury bonds for use as reserves backing the Company’s stablecoin and RWA issuance. At the same time, the Company will explore design options for assets pegged to each reserve type.”
“Our new RWA Division will lead the FTFT team to design and implement the on-chain process of real-world assets as well as establish sound asset valuation, risk management and trading mechanisms. In addition, Professor Yu Xiong, our Chief Blockchain Advisor and highly regarded industry expert, will apply his experience and knowledge of the industry to assist FTFT in its engagement with regulatory agencies and strategic partners, and support the sustainable growth of our stablecoins and RWA businesses,” concluded CEO Hu.
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