Future FinTech (FTFT), a US financial technology company, has announced a strategic decision to create a wholly-owned subsidiary, Chain Future Digital FinTech Ltd., with the aim to develop its blockchain incubation business.
FTFT's decision will form the basis for the company's Chain World Cyberspace, launched in July 2018, which provides business incubation and acceleration services for blockchain companies.
Chain World Cyberspace offers shared working space in central business districts, public relations and media consulting services, as well as access to an international network of blockchain incubators and accelerators.
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Additionally, FTFT CEO and chairperson Yongke Xue discussed that the company is also working on introducing blockchain infrastructure support, blockchain technology training, financial advisory services and digital asset marketing assistance.
"We are delighted to make this strategic move and choose Beijing as the location of our Chain World Cyberspace. As the political, economic and cultural center of China, Beijing has one of the best startup ecosystems in Asia and has been attracting many blockchain companies. In the first month of our operation, we already have four projects joined in the first phase of the Chain World Cyberspace incubator/accelerator in Beijing.
"We are expecting the formation of Chain Future Digital FinTech (Beijing) can accelerate the incubating pace for the blockchain companies in our ecosystem and also bring additional revenues for the company," he added.