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Future FinTech Announces its First Investment in the Mutual Insurance Industry

XI'AN, China, June 22, 2018 /PRNewswire/ -- Future FinTech Group Inc. (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

Cision

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