NEW
YORK, Oct. 3, 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 on September 29,
2022, FTFT UK Limited ("FTFT UK"), a company organized under
the laws of the United Kingdom and
a wholly owned subsidiary of the Company, closed on the acquisition
of Khyber Money Exchange Ltd. ("Khyber Exchange"), a money transfer
company.
As previously disclosed, on September 1,
2021, FTFT UK signed a definitive agreement to acquire 100%
of the equity of Khyber Exchange from the seller Rahim Shah at a purchase price of €685,000. The
Company engaged in extensive operational, legal and financial due
diligence in order to effect the acquisition. On August 16, 2022, Financial Conduct Authority, a
UK financial regulatory body, approved the acquisition of Khyber
Exchange by FFT UK.
Shanchun Huang, Chief Executive
Officer of Future FinTech, commented, "We are pleased with the
completion of the acquisition of Khyber Exchange since it further
extends our fintech footprint and reach. Further, we believe that
the acquisition will play an important role in the strategic
transformation of the Company and that it lays a foundation for the
internationalization of our business and income. Our objective is
to become a diversified fintech enterprise that leverages current
opportunities and integrates them into a comprehensive business
platform."
About Khyber Money Exchange Ltd.
Khyber Money Exchange Ltd. is a money transfer company with a
platform for transferring money around the world via one of its
agent locations or its online portal, mobile platform, or over the
phone. Khyber Exchange was incorporated in February 2009, is headquartered in the UK and has
offices in Germany and
Italy; its website is
https://khyberexchange.com.
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, asset management,
and cryptocurrency market data services. The Company is also
engaged in the development of blockchain based e-Commerce
technology, cryptocurrency mining, money transfer service and
financial service technology businesses. For more information,
please visit http:/www.ftft.com/.
Safe Harbor Statement
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"forward-looking statements" within the meaning and protections of
Section 27A of the Securities Act of 1933, as amended and Section
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Exchange Act. Forward-looking statements include statements with
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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.
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SOURCE Future FinTech Group Inc.