NEW
YORK, Oct. 25, 2022 /PRNewswire/ -- Future
FinTech Group Inc. (NASDAQ: FTFT) ("hereinafter referred to as
"Future FinTech", "FTFT" or "the Company"), a blockchain
application technology developer and a fintech service provider,
announced today that FTFT UK Limited ("FTFT UK"), a company
organized under the laws of United
Kingdom and a wholly owned subsidiary of the Company, has
officially launched the FTFT Orbit e-wallet app. The new app is now
available on Google Play and the Apple App Store.
The FTFT Orbit e-wallet app is an electronic wallet that
integrates popular e-wallet functions similar to Alipay and Wechat
pay. With this first version of the app, account holders are able
to send money and experience discount shopping. It also integrates
most of the core services that traditional banks offer such as
international remittances, transfer payments, a physical debit card
and bill payments. By the end of 2022, the FTFT Orbit app will
enable account holders to communicate with friends, remit red
envelopes (monetary gifts), and start a group buying program with
merchants.
The FTFT Orbit app contains functions that are designed for ease
of use and convenience for international students and newcomers who
will settle in the UK, solving the challenge of cross-border
remittance. The new FTFT Orbit e-wallet app gives users the
opportunity to sign up for a UK account with an International Bank
Account Number (IBAN) before landing in the UK, with pre-approved
accounts following appropriate documentation. It is expected that
the FTFT Orbit app could be the first e-wallet in the UK to provide
free account openings as well as integrated remittance services for
international students and expatriates in the UK. For more
information about the FTFT Orbit app, please visit
www.ftftorbit.com.
In November 2021, FTFT UK reached
a cooperation agreement with Railsbank (now known as Railsr) which
is an Electronic Money Institution (EMI) license holder. FTFT UK
received permission from Mastercard to issue credit and debit cards
as an agent on behalf of Railsr in February
2022. FTFT UK received approval to operate as an Electronic
Money Directive ("EMD") Agent and has been registered as such with
the Financial Conduct Authority (FCA), a UK regulator in
March 2022. FTFT UK also closed the
acquisition of Khyber Money Exchange Ltd., a UK-based Financial
Conduct Authority (FCA) regulated authorized payment institution,
in September 2022. These
relationships, permits and business operations were integral in
enabling the launch of FTFT Orbit app.
Bo Sun, Chief Executive Officer
of FTFT UK commented, "We are proud to announce the official launch
of the FTFT Orbit e-wallet app that has been especially designed
for international students and expats entering the UK. We believe
that our account opening process will make adoption of the app
easy, and the Orbit app provides unprecedented convenience as well
as a spectrum of services at a user's fingertips."
About Future FinTech Group Inc.
Future FinTech Group Inc. is a blockchain application technology developer and fintech
service provider incorporated in Florida. The Company's operations include a
blockchain-based online shopping mall platform, Chain Cloud Mall
("CCM"), supply chain financing services, and cryptocurrency market data
services. The
Company is also developing blockchain-based e-Commerce
technology, cryptocurrency
mining, asset management, money transfer
service, and financial service technology businesses. For
more information, please visit http://www.ftft.com/.
Safe Harbor Statement
Certain of the statements made in this press release are
"forward-looking statements" within the meaning and protections of
Section 27A of the Securities Act of 1933, as amended and Section
21E of the Securities Exchange Act of 1934, as amended, or the
Exchange Act. Forward-looking statements include statements with
respect to our beliefs, plans, objectives, goals, expectations,
anticipations, assumptions, estimates, intentions, and future
performance, and involve known and unknown risks, uncertainties and
other factors, which may be beyond our control, and which may cause
the actual results, performance, capital, ownership or achievements
of the Company to be materially different from future results,
performance or achievements expressed or implied by such
forward-looking statements. All statements other than statements of
historical fact are statements that could be forward-looking
statements. You can identify these forward-looking statements
through our use of words such as "may," "will," "anticipate,"
"assume," "should," "indicate," "would," "believe," "contemplate,"
"expect," "estimate," "continue," "plan," "point to," "project,"
"could," "intend," "target" and other similar words and expressions
of the future.
All written or oral forward-looking statements attributable
to us are expressly qualified in their entirety by this cautionary
notice, including, without limitation, those risks and
uncertainties described in our annual report on Form 10-K for the
year ended December 31, 2021 and our
other reports and filings with SEC. Such reports are available upon
request from the Company, or from the Securities and Exchange
Commission, including through the SEC's Internet website at
http://www.sec.gov. We have no obligation and do not
undertake to update, revise or correct any of the forward-looking
statements after the date hereof, or after the respective dates on
which any such statements otherwise are made.
To learn more about FTFT Orbit and what it offers click here
Tel: +44 (0)333 366 1118
Email: contact@uk.ftft.com
FTFT UK LIMITED
Devonshire House,
1 Mayfair Place,
London, W1J 8AJ
IR Contact:
Future FinTech Group Inc.
Tel: +1-888-622-1218
Email: ir@ftft.com
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SOURCE Future FinTech Group Inc.