Future FinTech Establishes New Blockchain Division

The blockchain-based e-commerce business and financial technology services provider, Future FinTech announced the formation of a new blockchain division today with an aim to accelerate the company’s expansion.

Through the establishment of the new division, Future FinTech is planning to efficiently manage its existing blockchain-related business. According to the details shared by the financial technology firm, the main focus of its blockchain division will be on the development and management of Future FinTech’s previously announced BTC mining farm plans in the US and Paraguay.

The financial technology firm has appointed Zhi Yan as the President of the new blockchain division. Previously, Yan worked as Chief Technology Officer of the company between February 2018 and February 2020.

Shanchun Huang, the Chief Executive Officer of Future FinTech, commented: “We are actively developing a sophisticated and cutting-edge financial services platform and are also intent upon executing a global expansion strategy for our cryptocurrency mining business. The establishment of this new division with responsibility for executing this strategy underscores our commitment to being a leading firm in this sector.”

Appointment of Kai Xu

In addition to the appointment of Zhi Yan as the President, Future FinTech has appointed Kai Xu as the Vice President of the company's new blockchain division. The firm aims to take advantage of Xu’s vast experience in the corporate sector for the development of its metaverse-related business.

“Kai Xu has been appointed as the vice president of the new division, with responsibility for optimizing the Company's blockchain computing hash power assets and developing its Metaverse related businesses, including the construction of overseas cryptocurrency mining farms, assessing mining machine investments and developing cooperation agreements with global partners that could accelerate the growth of the Company's blockchain business. Mr Xu has been deputy general manager of FT Commercial Group Ltd., a wholly-owned subsidiary of the Company since February 2020,” Future FinTech noted.