Future FinTech Group Expands in Hong Kong through Acquisition of Alpha HK and Alpha SZ

03/02/2023 07:17 • Metaverse & Beyond • 102 views

It is reported that Future FinTech Group Inc. (FTFT), a NASDAQ-listed encryption company, announced that its wholly-owned subsidiary FTFT HK has acquired its Hong Kong subsidiary Alpha HK and its Shenzhen subsidiary Alpha SZ through an equity transfer agreement with the Hong Kong licensed company Alpha Financial Limited. The specific amount of the acquisition has not been disclosed. Alpha HK holds the first category of “securities trading”, the second category of “futures contract trading” and the fourth category of “securities consulting” financial licenses issued by the Hong Kong Securities Regulatory Commission. Future FinTech Group Inc. is headquartered in Florida, the United States, and its business covers blockchain online mall, asset management, cryptocurrency mining, remittance, and cryptodata services. （prnewswire）

The encryption company FTFT acquires the Hong Kong and Shenzhen subsidiaries of Alpha Financial Limited

Interpretation of the news:

Future FinTech Group Inc., a NASDAQ-listed encryption company, has announced the acquisition of its Hong Kong subsidiary Alpha HK and its Shenzhen subsidiary Alpha SZ. These acquisitions were made through an equity transfer agreement with Alpha Financial Limited, a licensed company in Hong Kong. The exact amount of the acquisition has not been disclosed, but it is reported that the acquisition will provide Future FinTech Group with greater access to the financial market in this region.

Alpha HK holds a first, second, and fourth category of financial licenses issued by the Hong Kong Securities Regulatory Commission. These licenses include “securities trading,” “futures contract trading,” and “securities consulting.” This acquisition will allow Future FinTech Group to offer a wider range of financial services in Hong Kong and China.

Future FinTech Group is headquartered in Florida, and its business operations cover various areas including blockchain online mall, asset management, cryptocurrency mining, remittance, and cryptodata services. The acquisition can be interpreted as an expansion strategy for Future FinTech Group, as it seeks to increase its presence in the fast-growing Asian market.

Through this acquisition, Future FinTech Group can benefit from the expertise and network of Alpha HK, enabling it to offer its customers a deeper and more comprehensive range of financial services. The acquisition will also provide Future FinTech Group with greater opportunities to expand its customer base in Asia, as it seeks to become a major player in the financial technology industry in the region.

In conclusion, Future FinTech Group’s acquisition of Alpha HK and Alpha SZ is a strategic move that demonstrates the company’s commitment to expanding its operations in Asia. With these acquisitions, the company can leverage its expertise in blockchain technology to offer a wider range of financial services to its customers in Hong Kong and China. The acquisition also provides Future FinTech Group with greater access to the financial market in Asia, which is expected to experience significant growth in the coming years.

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