NEW YORK, Aug. 23, 2023 /PRNewswire/ -- Future Fintech Group Inc. (NASDAQ: FTFT), (hereinafter referred to as "Future FinTech", "FTFT" or the "Company"), a comprehensive financial and digital technology service provider, announced today that Mr. Huang Shanchun, Chief Executive Officer of the Company, has been invited to attend the inauguration ceremony of the President of Paraguay. Upon arrival, Mr. Barchini, the Minister of Justice of Paraguay, personally welcomed Mr. Huang and his entourage with diplomatic courtesy. On the morning of August 15, 2023, Mr. Huang attended the inauguration ceremony for Santiago Pena, who was sworn in as the new president of Paraguay.

Dignitaries from many countries attended the ceremony including South American leaders and the King of Spain. In his inaugural speech, President Pena promised to implement multiple reforms in education, health, security, and poverty reduction, bringing more benefits to the entire Paraguayan people. The new leaders of the Paraguayan government have clear expectations for Paraguay, which is to revive its past glory through industrial and economic revitalization.

In a meeting with new President Santiago Pena and Minister Barchini, Future FinTech's CEO Mr. Shanchun Huang, stated, "Future FinTech intends to engage in deeper and broader cooperation with the new government of Paraguay in the near future in areas such as financial technology, crypto mining with hydropower and related services."

"Future FinTech looks forward to working with the new government to promote a blockchain friendly legal environment, make Paraguay a blockchain friendly country, and attract global blockchain innovation enterprises to settle in Paraguay, promoting Paraguay's international competitiveness and strength," CEO Shanchun continued.

"In the field of cryptocurrency mining, Future Fintech can leverage Paraguay's abundant hydropower and other natural resources to attract global bitcoin mining to Paraguay, building an industrial chain from mining machine custody to mining machine production. While bringing economic benefits to Paraguay, it will also create more high-quality employment opportunities for Paraguayans," Mr. Huang concluded.

Paraguay President Santiago Pena and Minister Barchini expressed agreement with Mr. Huang's ideas and plans and welcomed international companies like Future FinTech to develop business in Paraguay.

About Future Fintech Group Inc.

Future FinTech Group Inc. (NASDAQ: FTFT) is a comprehensive financial and digital technology service provider. The Company, through its subsidiaries, conducts asset management in Hong Kong, operates a cross-border payment business in the United Kingdom, provides cryptocurrency trading data information services in the United Arab Emirates, and engages in supply chain trading and finance businesses in China. In addition, the Company provides digital asset computing power custody services in Paraguay and has initiated digital asset mining farm operations in the United States. FTFT adheres to the concept of improving financial services with digital and internet technology, and provides its business and individual customers with stable, safe and efficient digital financial services. For more information, please visit 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, 2022 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.

(PRNewsfoto/Future FinTech Group Inc.)

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SOURCE Future FinTech Group Inc.

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