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Alternative Assets  + Blockchain  + Crypto  + Crypto  + Markets  |  January 2, 2025
Future FinTech Updates Blockchain Business Division
Joe Palmisano
By: Joe Palmisano

Future FinTech Updates Blockchain Business Division

Future Fintech Group Inc. (FTFT) has updated its blockchain business division. The division was established in December 2021 to manage its existing blockchain business to include development as well as execution of its growth plan.

The new focus of the division will be to develop and grow new blockchain businesses such as high-performance computing, web3 technology, artificial intelligence, and other blockchain related projects.

Kai Xu has been appointed president of the division, responsible for overseeing and directing operations, including engagement with the expansion of web3. Xu was previously COO of FTFT, a position in which he served until February 2020, and VP of the blockchain division.

Weifang Peng has been appointed VP of the division, responsible for the company’s blockchain computing power and web3 related business development. Peng was responsible for FTFT’s global mining investment business from 2021 to 2022.

FTFT conducts asset management, brokerage and investment banking services in Hong Kong, operates a cross-border payment business in the UK, and engages in supply chain trading and finance businesses in China. In addition, the company has initiated digital asset mining farm operations in the U.S.

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About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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