Future FinTech Group Inc. (FTFT.US), a leading comprehensive financial and digital technology service provider, announced today the official establishment of its "Real World Asset Tokenization Business Division" (RWA Division) under board authorization. The division will be responsible for exploring technical pathways and regulatory compliance feasibility for the company's stablecoin issuance and tokenization of its core assets, as well as initiating applications to regulatory authorities for compliance licenses and regulatory filings related to stablecoin issuance and circulation. Additionally, the division will apply for necessary compliance licenses based on the nature of RWA assets. This move marks FTFT's official entry into a new phase of integrated development of RWA and stablecoin businesses under the Web3.0 framework.

Mr. Xu Kai, former President of the Blockchain Division, has been appointed as President of the RWA Division, overseeing the strategic planning and daily management operations of the RWA Division. Currently, the division's primary focus is advancing communications with U.S. regulatory authorities to apply for relevant regulatory licenses for RWA and stablecoins, exploring the tokenization feasibility of the company's core assets or assets intended for acquisition, and coordinating the company's cryptocurrency reserves and digital asset trading business.

The company has also appointed Ms. Chen Jia, former Vice President of Future Securities, as Vice President of the RWA Division. She will be primarily responsible for communications with Hong Kong regulatory authorities and Hong Kong legal counsel. Building upon the existing Hong Kong Type 1 and Type 4 licenses, she will apply for additional virtual asset-related licenses and the Virtual Asset Trading Platform License (VATP), while also applying for the Type 9 Asset Management License, with plans to cover both traditional and virtual asset management businesses.

FTFT CEO Li Hu commented: "The company's next major focus will be establishing the technical framework for stablecoin issuance and management, evaluating underlying assets such as gold and Bitcoin for acquisition as underlying assets for the company's stablecoin and RWA issuance, while pegging them to U.S. Treasuries. In terms of RWA business, the RWA Division will lead the team in designing and implementing the on-chain process for real-world assets, establishing comprehensive asset valuation, risk management, and trading mechanisms. Furthermore, Professor Xiong Yu, the company's Chief Blockchain Advisor and industry veteran, will leverage his industry influence to assist FTFT in communications and partnerships with regulatory institutions and partners, promoting the healthy development of the company's stablecoin and RWA businesses on a compliant track."