NEW YORK, Jan. 11, 2021 /PRNewswire/ -- Future FinTech
Group Inc. (NASDAQ: FTFT, "Future FinTech", "FTFT" or "Company"), a
leading blockchain based e-commerce business and a fintech service
provider, announced today that DCON DigiPay Limited ("DCON"), a
company incorporated in Japan and
a 60% owned subsidiary of the Company, has completed the upgrade of
its mBTC system and technology which can now be used by e-commerce
platforms that plan to accept Bitcoin (BTC) as a payment method
The mBTC system is a blockchain based system to exchange mBTC
and BTC which has a 1,000,000:1 exchange rate pegged against
Bitcoin, so it can be used by consumers in real life. Bitcoin has a
very high market value and it is not practical as an online
shopping payment method.
DCON originally developed mBTC as a payment platform for certain
blockchain based communities and has adapted its technology to be
suitable for e-commerce platforms. The mBTC is designed on the real
name blockchain basis which will help its owner recover his or her
funds despite the anonymous nature of BTC.
"Our unique technology for mBTC solves the main issue with BTC,
which is that it is anonymous and not recoverable if lost or
stolen," said Shanchun Huang, Chief Executive Officer of the
Future FinTech. "It also enables
BTC and blockchain technology to serve the consumer space. We
expect this technology to be used not only for e-commerce platforms
but also for other payment systems that plan to use BTC. Because
our technology uses the shopper's legal name, it can also meet Know
Your Customer (KYC) and Anti-Money Laundry (AML) requirements."
About Future FinTech Group Inc.
Future FinTech Group Inc. ("Future FinTech", "FTFT" or the
"Company") is a leading blockchain e-commerce company and a
service provider for financial technology incorporated
in Florida. The Company's operations include a
blockchain-based online shopping mall platform, Chain Cloud Mall
("CCM"), a cross-border e-commerce platform (NONOGIRL), an
incubator for blockchain based application projects. The Company is
also engaged in the development of blockchain based technology and
services as well as financial technology services. For more
information, please visit http://www.ftftex.com/.
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SOURCE Future FinTech Group Inc.