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Alternative Assets  + Blockchain  + Crypto  + Crypto  + Markets  |  January 2, 2025
Future FinTech Updates Blockchain Business Division
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 for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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