Future Fintech Group Expands Operations
Future Fintech Group, known as FTFT, has taken a significant step in expanding its operations by establishing a new department dedicated to Real World Assets (RWA). This initiative has received official approval from the company’s board of directors.
Focus and Leadership of the RWA Department
The newly formed department will focus on investigating how both technology and regulatory frameworks can support the issuance of stablecoins and the tokenization of essential assets.
The RWA department’s agenda includes seeking out compliance licenses and handling regulatory filings necessary for the launch and circulation of stablecoins. To ensure comprehensive oversight, Kai Xu, who currently leads the blockchain department, has been appointed as the head of this new division. Xu will be responsible for strategic planning as well as the operational aspects of the department.
Engagement with Regulatory Agencies
An essential component of the RWA department’s mission is to engage proactively with U.S. regulatory agencies in pursuit of necessary licenses relevant to stablecoin operations and RWA management. In addition to this, the department will explore the viability of tokenizing FTFT’s core assets and potential acquisitions while managing the company’s crypto reserves and digital trading activities.
Leadership in Compliance and Licensing
In parallel, Jia Chen, serving as the vice president of FTFT Securities, has been appointed as the department’s vice president. Her primary role will involve building relationships with regulatory bodies in Hong Kong, ensuring legal compliance, and applying for a range of virtual asset licenses.
These licenses will supplement the existing Hong Kong Type 1 and Type 4 licenses, with additional applications for a Virtual Asset Trading Platform (VATP) license and an asset management license aimed at overseeing both conventional and digital assets.
