Future FinTech Appoints Professor Yu Xiong as Chief Blockchain Advisor

Future FinTech Group Inc. has appointed Professor Yu Xiong, a global expert in blockchain, as Chief Blockchain Advisor to lead its expansion into stablecoins and real-world asset (RWA) tokenisation. With his deep experience in blockchain research and innovation, Professor Xiong will guide FTFT’s strategy as it explores new opportunities in decentralised finance and digital asset markets.

Future FinTech Group, a leading provider of digital financial services, has appointed Professor Yu Xiong as its new Chief Blockchain Advisor. Professor Xiong’s appointment will enhance the company's position as a frontrunner in the fast-evolving blockchain and fintech sectors. With his global reputation and extensive experience in blockchain research, Professor Xiong will play a pivotal role in guiding FTFT’s strategic direction, particularly in the development of stablecoins and the tokenisation of real-world assets (RWAs).

FTFT’s expansion into these two areas reflects the company’s ongoing commitment to leveraging blockchain technology for innovation in financial services. With stablecoins gaining widespread use in decentralised finance (DeFi) and RWAs representing the future of digital asset investment, Professor Xiong's leadership and expertise will be crucial as FTFT seeks to capitalise on these promising opportunities.

Professor Yu Xiong’s appointment and role at future fintech

FTFT has appointed Professor Yu Xiong, a globally recognised expert in blockchain technology, as its Chief Blockchain Advisor. Professor Xiong is the Associate Pro-Vice-Chancellor for Global Engagement at the University of Surrey, where he is also the Founding Director of the Surrey Blockchain and Metaverse Applications Research Institute. His appointment marks a significant step for FTFT as it moves forward with its ambitions in the stablecoin and RWA markets.

With his remarkable experience and expertise, Professor Xiong will offer strategic guidance and technical support as FTFT explores new avenues in blockchain applications. His knowledge will help FTFT address the unique challenges associated with the development of stablecoins and RWAs, while also ensuring compliance with the latest regulatory frameworks.

Professor Xiong’s background and achievements

Professor Xiong’s academic and professional journey has established him as one of the leading figures in blockchain research. He has been a fellow at prestigious institutions such as the Cambridge Institute for Sustainability Leadership and the Oxford Centre for Technology and Management Development. Additionally, he holds positions as a Visiting Professor at Durham University Business School and the University of York.

His work has attracted funding from numerous renowned institutions, including the UK Engineering and Physical Sciences Research Council (EPSRC), the British Academy, and the Offshore Renewable Energy Catapult. Professor Xiong’s leadership has also facilitated an £8 million investment in the Newcastle Tsinghua Science Park, a key player in northern England’s innovation ecosystem.

As a co-founder of the Endless Protocol Foundation and a core team member of Fotor, a leading generative AI platform, Professor Xiong brings a wealth of practical experience in both blockchain technology and AI applications. Furthermore, his latest venture, keath.ai, has earned accolades, securing second place in the prestigious 2024 Pie News Awards for Innovation.

FTFT’s strategic expansion into Stablecoins and RWAs

Future FinTech is set to explore the emerging markets of stablecoins and real-world assets. Stablecoins, which are cryptocurrencies pegged to fiat currencies or other assets, have become integral to the crypto ecosystem. They provide relative stability, making them invaluable in applications such as cross-border payments and decentralised finance (DeFi).

Similarly, real-world assets (RWAs), which represent traditional financial assets like real estate, stocks, and bonds, are increasingly being digitised and tokenised via blockchain technology. These assets bridge the gap between traditional finance and the cryptocurrency market, offering investors a wider range of investment opportunities. FTFT’s strategic move into these areas is poised to reshape the future of digital finance.

Professor Xiong’s vision for the future of blockchain and finTech

Commenting on his new role, Professor Yu Xiong stated, “Stablecoins and RWAs represent significant innovative directions in the cryptocurrency field, each demonstrating tremendous potential but also facing unique challenges. Stablecoins have already assumed a pivotal role in the cryptocurrency market, and they are an indispensable foundational component of the crypto ecosystem. RWAs bridge the gap between traditional finance and cryptocurrencies, and hold immense market potential.”

He added, “I am delighted to have the opportunity to collaborate with FTFT. The company has considerable ambitions in the blockchain and fintech sectors. I look forward to working with the team to explore innovations in the stablecoins and RWA businesses, and helping to build FTFT into a sustainable and innovative fintech enterprise.”

FTFT’s CEO perspective on the appointment

FTFT’s CEO, Mr. Hu Li, expressed enthusiasm over Professor Xiong’s appointment, stating, “Through our extensive experience in the cryptocurrency industry, we are keenly aware of current trends in the sector. Although the decision to venture into stablecoins and RWAs may appear to be a bold one, it is based on our deep insight into market developments and our strategy to seek breakthroughs that capitalise on transformative changes in the sector.”

He continued, “Stablecoins are a type of cryptocurrency pegged to fiat currencies, among other assets. They offer relative stability and are widely used in cross-border payments, DeFi, and other areas, with growing market demand. RWAs digitise and tokenise real-world assets, bridging traditional finance and the cryptocurrency market and providing investors with diversified investment options. RWAs are seen as a key avenue of development in the cryptocurrency market.”

Mr. Hu also praised Professor Xiong’s qualifications, saying, “With his in-depth research in blockchain and AI, I am highly confident that he will provide insightful advice on the Company’s strategic development in these new fields. Professor Xiong has achieved remarkable results in blockchain technology research and applications, and has led several large-scale blockchain projects. His extensive experience and exceptional technical capabilities will provide comprehensive support for FTFT in the R&D, compliance, and market expansion of its stablecoins and RWA businesses.”

About future FinTech group Inc.

Future FinTech Group Inc. (NASDAQ: FTFT) is a global digital finance and technology company. It offers services like investment banking and brokerage in Hong Kong, and supply chain trading and finance in China. The company also runs e-commerce platforms such as Chain Cloud Mall, which uses blockchain to support real-name shopping and secure transactions.

FTFT focuses on using new technologies like blockchain, artificial intelligence (AI), and financial technology (fintech) to improve digital financial services. Its goal is to build a smart and open financial ecosystem that connects users, businesses, and markets around the world.