Strategy & Practice Management

Future Fintech Announces Plans to Launch Financial App in New Jurisdiction

Future FinTech Group Inc. has announced today that its new subsidiary, FTFT UK Limited, and held an inauguration ceremony on November 19, 2021 for the opening of its new office in London, during which FTFT UK announced that it has entered the beta testing phase for its mobile financial app which will enable customers to engage in a comprehensive suite of e-wallet activities.

Representatives from the local business and financial sectors, including executives of MasterCard, JP Morgan Chase, China Mobile and Bank of China attended the event, Future Fintech said in a press release.

Mr. Shanchun Huang, CEO of FTFT, said, “We believe that we can leverage our core competencies by being part of the challenger banking sector, which provides digital banking services through apps or websites, and build a comprehensive financial services platform in the future that is highly competitive with traditional banking. Our ultimate goal is to become a leading financial technology company that provides customers with a high-quality digital financial services platform for a superior user experience.”

As announced on August 12, 2021, the Company's FTFT UK subsidiary was incorporated as an operating base from which to develop fintech business in Europe. FTFT UK has been working to develop a financial 'super app' that will include a wide range of personal digital financial products and services including functionality for mobile payments, international transfers, wealth management options, membership rewards, on-the-spot discounts and proprietary industry-disruptive applications. The app has been designed to be especially useful for UK-bound international students since it will enable the opening of bank accounts and international money transfers which will help such students to save time and avoid unneeded hassles, so that they can quickly settle down and start their new lives in the UK.

FTFT UK has established partnerships and began the process of technical integration with leading fintech companies in the UK. Once regulatory registration and technical collaborations are finalized, the FTFT UK 'super app' will be ready to launch.