FutureFinTech Group Inc. (NASDAQ: FTFT), (hereinafter referred to as “Future FinTech”, “FTFT” or the “Company”),a comprehensive financial and digital technology service provider, announced today the appointment of Professor Yu Xiong as its Chief Blockchain Advisor. This appointment aims to provide strategic guidance and technical support for the Company's entering the stablecoins and real-world asset (RWA) businesses.
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Professor Yu Xiong is the Associate Pro-Vice-Chancellor for Global Engagement at the University of Surrey and a globally renowned expert in the blockchain field. He is also the Founding Director of the Surrey Blockchain and Metaverse Applications Research Institute. In the blockchain sector, Professor Xiong has served as the Chair of the Advisory Committee for the UK Parliament's All-Party Parliamentary Group on the Metaverse and Web 3.0, as well as a co-Founder of the Endless Protocol Foundation (www.endless.link).
Professor Xiong's research has been funded by numerous prestigious institutions including the UK Engineering and Physical Sciences Research Council (EPSRC), the Research England Foundation, the UK Department for Business, Energy and Industrial Strategy, the British Academy, the British Council, the Offshore Renewable Energy Catapult, the Satellite Applications Catapult, and many other private and public organizations. Professor Xiong has held positions as a Fellow at the Cambridge Institute for Sustainability Leadership (2016 – 2023), a Senior Fellow at the Oxford Centre for Technology and Management Development (2023 – present), a Visiting Professor of Computer Science at the University of York, and a Visiting Professor at Durham University Business School.
In terms of innovation and commercialization, Professor Xiong has extensive experience in operations and management. During his time at Newcastle University Business School, he facilitated an £8 million investment to establish the Newcastle Tsinghua Science Park, which has created a significant impact on ecosystem innovation in northern England. In addition, Professor Xiong has contributed to the growth of over 40 companies in the UK, and served as a core team member and Vice President of Fotor, one of the world's leading generative AI platforms with 600 million users.
In 2023, Professor Xiong co-founded www.keath.ai and serves as its Chairman; the website was named the runner-up for the Times Higher Education (THE) Digital Universities Awards and won second prize in the prestigious 2024 Pie News Awards for Innovation. Also, at the 'W2140 World AI + Web3 Expo', Professor Xiong and his team unveiled the Endless Genesis Cloud, bringing transformative changes to Web3 infrastructure. Recently, Professor Xiong was appointed Senior Vice President and Chief Scientist of Datasection Inc., a Tokyo-listed company specializing in AI infrastructure development.
Professor Yu Xiong said, “Stablecoins and RWAs represent significant innovative directions in the cryptocurrency field, each demonstrating tremendous potential but also facing unique challenges. Stablecoins have already assumed a pivotal role in the cryptocurrency market and they are an indispensable foundational component of the crypto ecosystem. RWAs bridge the gap between traditional finance and cryptocurrencies, and hold immense market potential.”
“I am delighted to have the opportunity to collaborate with FTFT. The Company has considerable ambitions in the blockchain and fintech sectors. I look forward to working with the team to explore innovations in the stablecoins and RWA businesses, and helping to build FTFT into a sustainable and innovative fintech enterprise,” concluded Professor Xiong.
Mr. Hu Li , CEO of Future FinTech, commented, “Through our extensive experience in the cryptocurrency industry, we are keenly aware of current trends in the sector. Although the decision to venture into stablecoins and RWAs may appear to be a bold one, it is based on our deep insight into market developments and our strategy to seek breakthroughs that capitalize on transformative changes in the sector.”
CEO Hu continued, “Stablecoins are a type of cryptocurrency pegged to fiat currencies among other assets, they offer relative stability, and they are widely used in cross-border payments, decentralized finance (DeFi), and other areas, with growing market demand. RWAs digitize and tokenize real-world assets such as real estate, and stocks and bonds, through blockchain technology, bridging traditional finance and the cryptocurrency market, providing investors with diversified investment options. RWAs are viewed as a key avenue of development in the cryptocurrency market.”
“With our entering these new asset areas, we are thrilled to welcome Professor Xiong to the FTFT team. With his in-depth research in blockchain and AI, I am highly confident that he will provide insightful advice as to the Company's strategic development in these new fields. Professor Xiong has achieved remarkable results in blockchain technology research and applications, and he has led several large-scale blockchain projects. Professor Xiong's extensive experience and exceptional technical capabilities will provide comprehensive support for FTFT in the R&D, compliance, and market expansion of its stablecoins and RWA businesses,” added CEO Hu.
About Future Fintech Group Inc.
Future FinTech Group Inc. (NASDAQ: FTFT) is a comprehensive financial and digital technology service provider. The Company, through its subsidiaries, conducts brokerage and investment banking services in Hong Kong, and engages in supply chain trading and finance businesses in China and efficient digital financial services. For more information, please visit www.ftft.com.
Safe Harbor Statement
Certain statements made in this press release are “forward-looking statements” within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. Forward-looking statements include statements regarding our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties, and other factors that may be beyond our control, which may cause the actual results, performance, capital, ownership, or achievements of the Company to be materially different from those implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements by our use of words such as “may,” “will,” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” “point to,” “project,” “could,” “intend,” “target” and other similar words and expressions relating to the future.
All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, the risks and uncertainties described in our annual report on Form 10-K for the year endedDecember 31, 2024and our other reports and filings with the SEC. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website athttp://www.sec.gov. We have no obligation and do not undertake to update, revise, or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements are otherwise made.
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