Future Fintech Group Inc. (NASDAQ:FTFT) has announced receiving a 5% equity interest in Nova Realm Limited. The stake was Mr. Yongke Xue’s gift to the company. Mr. Xue is one of the Directors of Future FinTech. Nova Realm is registered in the United Kingdom and specializes in blockchain technology. The company developed Nova Realm City (“NRC”), which is the pioneer blockchain technology value community that has been registered under the real name of users. It offers asset-based digital solutions to blockchain projects globally and offers a platform for members to participate in the projects. Mr. Yongke Xue personally owned 60% of the equity interest of the company and has generously offered 5% of it to Future Fintech.
In a statement, Future FinTech Chief Executive Officer Mr. Hongke Xue said they are very pleased with the offers and it wil be an opportunity to explore the company’s financial technology business which he said is very important to the new business strategy of the company. He added that the gift is an opportunity for the company to fully exploit opportunities in the blockchain field as well as leverage the evolving technology to grow.
On his part, Mr. Yongke Xue who is also a director at Future FinTech said his gift will enable the company to access technical expertise knowhow in the sector of blockchain cryptography from Nova Realm City. He added that this access will open Future FinTech’s ability to choose profitable projects that can be implemented using blockchain technology. He said Future Fintech will be able to use the acquired technical capabilities together with its advantage of being a public company to come up with sounding and developed blockchain applications that’s will enable it remain competitive in the sector.
Over the first few years, being an internet technology company has moved to take full advantage of the blockchain technology which is quickly becoming a very attractive sector. This is so due to the new and unique mechanisms used in securing trust partners. According to Future Fintech, blockchain technology is taking to scale with high speed and has attracted a lot of interest and attention globally. Many industries are moving to utilize this technology as well as the revolutionary capabilities that come with it.