Future FinTech Announces Launch of FTFT Orbit App

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Oct 25, 2022, 08:00 ET

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: [email protected]

FTFT UK LIMITED
Devonshire House,
1 Mayfair Place,
London, W1J 8AJ

IR Contact:
Future FinTech Group Inc.
Tel: +1-888-622-1218
Email: [email protected]

SOURCE Future FinTech Group Inc.