Future FinTech Forms Subsidiary In Beijing To Develop Its Blockchain Incubation Business

Announcements, Blockchain | July 30, 2018 By:

US-based firm Future FinTech Group (FTFT) has formed a new subsidiary in Beijing, China that will serve as the main vehicle for the firm’s blockchain incubator/accelerator “Chain World Cyberspace.”

Incorporated in Florida, FTFT engages in the research and development of digital asset systems based on blockchain technology. The firm is developing blockchain solutions for B2B and B2C real-life applications, including a variety of financial businesses and the distribution, marketing and sale of consumer products. It is also developing an operational online shopping mall platform utilizing blockchain and the shared economy.

Dubbed Chain Future Digital FinTech, the new Beijing subsidiary will help foster FTFT’s Chain World Cyberspace accelerator and tap into blockchain’s potential in public administration services. The company said they the chose Beijing as the cornerstone for the accelerator because of its unique startup-friendly ecosystem.

“As the political, economic and cultural center of China, Beijing has one of the best startup ecosystems in Asia which has been attracting many blockchain companies,” said Yongke Xue, Chief Executive Officer and Chairman of Future FinTech. “In the first month of our operation, we already have four projects joined in the first phase of the ‘Chain World Cyberspace’ incubator/accelerator in Beijing.”

The Chain World Cyberspace accelerator will offer shared working space in central business districts, public relations and media consulting services, and access to a global network of blockchain incubators/accelerators to be established by the new subsidiary. FTFT is also planning a series of value-added services including blockchain infrastructure support, blockchain technology training, financial advisory services, and assistance on digital asset marketing.

“We are expecting the formation of Chain Future Digital FinTech (Beijing) can accelerate the incubating pace for the blockchain companies in our ecosystem, and also bring additional revenues for the company,” Xue said.