According to the announcement from Future Fintech Group (FTFT), Foresight News reports that the board of directors has approved the establishment of the company's RWA department, aiming to explore the technical pathways and regulatory feasibility of issuing stablecoins and tokenizing core assets, apply to regulatory authorities for compliance licenses and registrations related to stablecoin issuance and circulation, and apply for all necessary compliance permits based on the nature of RWA assets.
Kai Xu, President of the Blockchain Department, has been appointed as President of the RWA Department, fully responsible for the department's strategic planning and daily management. The department will communicate with US regulatory authorities to apply for relevant RWA and stablecoin regulatory licenses, explore the feasibility of tokenizing the company's core assets or assets to be acquired, and coordinate the company's reserve cryptocurrency and digital asset trading business. Jia Chen, Vice President of FTFT Securities, has been appointed as Vice President of the RWA Department, primarily responsible for communicating and coordinating legal compliance with Hong Kong regulatory authorities, applying for additional virtual asset-related licenses based on existing Hong Kong Type 1 and Type 4 licenses, applying for a Virtual Asset Trading Platform license (VATP), and Type 9 asset management license to manage traditional and virtual assets.
