1. PixelPlaygroundHome
  2. Web3 News

Future FinTech Group Inc. acquires Alpha HK and Alpha SZ subsidiaries

• Web3 News • 162 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 H…

Future FinTech Group Inc. acquires Alpha HK and Alpha SZ subsidiaries

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 based in Florida, has announced the acquisition of 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 acquisition is significant as it allows Future FinTech Group Inc. to expand its business operations in the rapidly growing Asian market. Alpha HK holds three different financial licenses issued by the Hong Kong Securities Regulatory Commission, including securities trading, futures contract trading, and securities consulting. These licenses will be an asset to Future FinTech Group Inc. as it continues to expand its range of financial services, including asset management, cryptocurrency mining, remittance, and cryptodata services.

The specific amount of the acquisition has not been disclosed, which raises questions about the financial health of Future FinTech Group Inc. However, the acquisition of Alpha HK and Alpha SZ is part of the company’s long-term growth strategy, and it is expected to increase its revenue potential significantly.

The acquisition also highlights the importance of Hong Kong and China in the global financial market. The two regions have been at the forefront of the digital transformation of the financial industry, with many blockchain and fintech companies based in these areas.

In conclusion, the acquisition of Alpha HK and Alpha SZ by Future FinTech Group Inc. is a strategic move aimed at expanding the company’s footprint in the Asian market. While the financial details of the deal remain undisclosed, the acquisition of the three financial licenses held by Alpha HK represents a significant value-added asset to Future FinTech Group Inc. as it continues to offer innovative financial solutions to its clients.

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/4497/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 03/02/2023 07:12
Next 03/02/2023 07:33

Recommended articles