XI'AN, China, June 22, 2018 /PRNewswire/ -- Future FinTech
Group Inc. (NASDAQ: FTFT) ("Future FinTech", "FTFT" or "the Company"), a financial technology company, today announced its
wholly-owned subsidiary DigiPay FinTech Limited ("DigiPay") entered into a share transfer and digital assets investment agreement
with Lake Chenliu and InUnion Chain Ltd.("InUnion"), to acquire 10% stake in InUnion for $15
million and purchase 20,000,000 INU Digital Asset Tokens for $1 million.
InUnion has launched its "INU Life Mutual Insurance Plan" on Nova Realm City ("NRC"), the first-ever blockchain technology
value community that is registered with real name users and delivers asset-based digital services. Every customer who
participates in the "INU Life Mutual Insurance Plan" is both a policyholder and an insurer, as well as an investor and a staff
member. Similar to the traditional mutual insurance model, each customer can join the blockchain based mutual insurance plan and
enjoy the benefits of mutual insurance. The Plan will issue insurance policy and process the claims. The Committee of Verifiers
of the Plan will serve various functions for the Plan, such as INU community management, supervision and operation, and will
verify the application and claims, which will all be recorded in the blockchain.
Due to the NRC blockchain technology, "INU Life Mutual Insurance Plan" can save costs and still maintain the normal operation
of the project. Customers and investors can download and access the insurance ledger in real time. Artificial intelligence
technology will also be widely used in the project to improve insurance service capabilities and significantly reduce labor
costs.
"This investment is another milestone of FTFT's blockchain incubator business. 'INU Life Mutual Insurance Plan' provides
customers with high quality comprehensive blockchain based online insurance products at an affordable price. We believe InUnion
will become one of the leading blockchain based insurance companies. We believe our investment in the mutual insurance industry
will become a milestone in FTFT's business transformation and help the Company to further expand and improve the blockchain
project incubator and accelerator business," said Mr. Yongke Xue, Chief Executive Officer and
Chairman of Future FinTech.
About InUnion Chain Ltd.
InUnion Chain Ltd. ("InUnion") is a mutual insurance platform based on blockchain technology. Its "INU Life Mutual Insurance
Plan" is based on the technology of Nova Realm City ("NRC"), the first-ever blockchain technology value community that is
registered with real name users and delivers asset-based digital services. Every customer who participates in the "INU Life
Mutual Insurance Plan" is both a policyholder and an insurer, as well as an investor and a staff member. Similar to the
traditional mutual insurance model, each customer can join the blockchain based mutual insurance plan and enjoy the benefits of
mutual insurance.
About Future FinTech Group Inc.
Future FinTech Group Inc. ("Future FinTech", "FTFT" or the "Company") is incorporated in Florida and engages in financial technology. The Company engages in the research and development of
digital asset systems based on blockchain technology and is also an incubator of application projects related to blockchain
technology. The Company and its subsidiaries are developing blockchain technology and cryptocurrencies for a variety of B2B and
B2C real-life applications including a variety of financial businesses and the distribution, marketing and sale of consumer
products. FTFT is also developing an operational platform utilizing blockchain technology and the shared economy, which includes
an integrated online shopping mall. For more information, please visit http://www.ftft.top/.
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, 2017 and otherwise in our SEC reports and filings, including the final
prospectus for our offering. 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.
IR Contact:
Dragon Gate Investment Partners LLC
Tel: +1(646)-801-2803
Email: ftft@dgipl.com
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SOURCE Future FinTech Group Inc.