Future FinTech Group Inc. Acquires Alpha HK and Alpha SZ Subsidiaries

03/02/2023 07:17 • Tech Trends • 132 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 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

Analysis based on this information:

Future FinTech Group Inc., a NASDAQ-listed encryption company, has recently acquired its Hong Kong subsidiary Alpha HK and its Shenzhen subsidiary Alpha SZ through an equity transfer agreement. The acquisition amount has not been disclosed. Alpha HK holds financial licenses issued by the Hong Kong Securities Regulatory Commission for “securities trading,” “futures contract trading,” and “securities consulting.”

This acquisition indicates Future FinTech Group Inc.’s plan to expand its reach in the financial industry. The company, which is headquartered in Florida, United States, has been working on providing various services such as asset management, cryptocurrency mining, remittance, and cryptodata services. By acquiring Alpha HK and Alpha SZ, they will now have access to licenses that would enable them to carry out securities trading, futures contract trading, and securities consulting services.

This move will also strengthen Future FinTech Group Inc.’s presence in Asia, especially in China. Shenzhen is one of the major financial hubs in China, and acquiring a subsidiary located in this region would enable the company to establish a strong foothold in the country. Moreover, Alpha HK has been licensed to trade securities in Hong Kong, which is an important financial center in Asia. Thus, by acquiring Alpha HK and Alpha SZ, Future FinTech Group Inc. will be able to expand its business in Asia and offer its services to a broader customer base.

In conclusion, Future FinTech Group Inc.’s acquisition of Alpha HK and Alpha SZ is a strategic move to expand its business in the financial industry and strengthen its presence in Asia. With access to financial licenses and a subsidiary located in a major financial hub in China, the company will be able to offer more services to its clients and tap into the huge potential of the Asian market.

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Future FinTech Group Inc. Acquires Alpha HK and Alpha SZ Subsidiaries

The encryption company FTFT acquires the Hong Kong and Shenzhen subsidiaries of Alpha Financial Limited

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