Future FinTech Establishes DCON DigiPay in Japan
Future FinTech Establishes DCON DigiPay in Japan
XI'AN, China, March 15, 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 on February 5 2018, its wholly owned subsidiary, DigiPay Fintech Limited ("DigiPay FinTech") established DCON DigiPay Limited ("DCON DigiPay") in Japan to operate DCON's digital payment system and other digital assets ("DCON"). DigiPay FinTech holds a 60% equity interest in DCON DigiPay. In January 2018, DigiPay FinTech acquired a 60% ownership interest in DCON digital assets from Mr. Youwang Peng, who was recently appointed the Company's Vice President of Marketing.
"We are very pleased to establish DCON DigiPay Limited in Japan since Japan is expediting the exploration of new cryptocurrencies. Japan has created a supportive environment for the development and application of blockchain technology with measures that include the formal legal recognition of Bitcoin payments, eliminating the consumption tax on Bitcoin and becoming the first country in the world to pass virtual currency legislation," said Mr. Yongke Xue, Chief Executive Officer of Future FinTech.
"At present, more than 100 companies are applying for virtual currency licenses at the Japan Financial Services Agency, two-thirds of which are from overseas, including mainland China, Hong Kong, Singapore and others," Mr. Xue continued. "Japan has confirmed the legal status of more than 10 virtual currencies and granted them qualifications for trading. We believe that our having established DCON DigiPay in Japan can benefit from Japan's forward-looking policies regarding encrypted digital currency and blockchain technology, thereby creating a favorable environment for our DCON digital payment system."
DCON is the only designated financial center in Nova Realm City ("NRC"; see "About Nova Realm Limited" below). DCON offers an efficient trading system where the mBTC (a MilliBitcoin, equal to one millionth of a bitcoin) is the only token accepted for transaction settlement within NRC. mBTC transactions can be confirmed within seconds, and the platform allows 5,000 transactions per second while keeping transaction fees low. The NRC community is composed of many different industry segments, and with more projects expected to join the community in the future, the Company believes that NRC will attract large user traffic for DCON. DCON completed its launch on the NRC community in 2017, and as of February 28, 2018, 100 communities have been established in NRC.
The payment wallet developed by DCON is currently in operation and DCON tokens have been registered and is now traded on three cryptocurrency exchange sites, BCEX, XStar and Dobitrade. In addition to bringing efficient and secure digital currency mobile payment solutions, DCON also provides a variety of financial services as a blockchain financial center such as mortgage loans, blockchain financing, investment advisory and hedging transactions.
"We believe that the establishment of DCON DigiPay in Japan will provide a broader platform for the DCON digital payment system and its other financial services, making the operation of DCON more global and maximizing the business value of blockchain technology," CEO Mr. Xue concluded.
About DCON
DCON is a blockchain development project that is creating an open and transparent digital payment system backed by blockchain technology. DCON intends to become a blockchain financial center that breaks the barrier among cyptocurrencies and links users with users, and users with blockchains to realize a completely new and innovative financial services model. In addition, DCON is the only designated financial center in NRC's largest community and the only exchanger of mBTCs for circulation of currencies in the NRC community, and therefore plays a central role in all of the financial activities of the NRC community. For more information, please visit DCON's Chinese website at: http://www.dcon.cc.
About Nova Realm Limited
Nova Realm Limited ("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 which delivers asset-based digital services to global blockchain projects. NRC's mission represents the first interaction community with a real-name registration system in the world.
The operation of the NRC community is ensured through blockchain technology where the legitimate allocation of community funds is safeguarded through multiple signatures and the community's major events are decided through a voting mechanism. For more information, please visit Nova Realm's Chinese website at http://www.nrc.one/.
About Future FinTech Group Inc.
Future FinTech Group Inc. ("Future FinTech", "FTFT" or the "Company") is incorporated in Florida and engages in financial technology. The Company engages in the research and development of digital asset systems based on blockchain technology and is also an incubator of application projects related to blockchain technology. The Company and its subsidiaries are developing blockchain technology and cryptocurrencies for a variety of B2B and B2C real-life applications including a variety of financial businesses and the distribution, marketing and sale of consumer products. FTFT is also developing an operational platform utilizing blockchain technology and the shared economy, which includes an integrated online shopping mall. For more information, please visit http://www.ftft.top/.
Safe Harbor Statement
Certain of the 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 and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or 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 through 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 of 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, those risks and uncertainties described in our annual report on Form 10-K for the year ended December 31, 2016 and otherwise in our SEC reports and filings, including the final prospectus for our offering. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at http://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 otherwise are made.
For more information, please contact:
COMPANY
Cindy Liu, Investor Relations Manager
Future FinTech Group Inc.
Tel: China +86-29-8187-8277
Email: skypeople_annie@163.com
Web: http://www.ftft.top
CONTACT: David Rudnick, Account Manager, Precept Investor Relations LLC, +1-646-694-8538, david.rudnick@preceptir.com
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SOURCE Future FinTech Group Inc.
