News Provided By: PR Newswire

NEW YORK, Aug. 23, 2023 /PRNewswire/ -- Future Fintech Group Inc. (NASDAQ: FTFT), (hereinafter referred to as "Future FinTech", "FTFT" or the "Company"), a comprehensive financial and digital technology service provider, announced today that Mr. Huang Shanchun, Chief Executive Officer of the Company, has been invited to attend the inauguration ceremony of the President of Paraguay. Upon arrival, Mr. Barchini, the Minister of Justice of Paraguay, personally welcomed Mr. Huang and his entourage with diplomatic courtesy. On the morning of August 15, 2023, Mr. Huang attended the inauguration ceremony for Santiago Pena, who was sworn in as the new president of Paraguay.

Dignitaries from many countries attended the ceremony including South American leaders and the King of Spain. In his inaugural speech, President Pena promised to implement multiple reforms in education, health, security, and poverty reduction, bringing more benefits to the entire Paraguayan people. The new leaders of the Paraguayan government have clear expectations for Paraguay, which is to revive its past glory through industrial and economic revitalization.

In a meeting with new President Santiago Pena and Minister Barchini, Future FinTech's CEO Mr. Shanchun Huang, stated, "Future FinTech intends to engage in deeper and broader cooperation with the new government of Paraguay in the near future in areas such as financial technology."

"Future FinTech looks forward to working with the new government to promote a blockchain friendly legal environment, make Paraguay a blockchain friendly country, and attract global blockchain innovation enterprises to settle in Paraguay, promoting Paraguay's international competitiveness and strength," CEO Shanchun continued.

"In the field of cryptocurrency mining, Future Fintech can leverage Paraguay's abundant hydropower and other natural resources to attract global bitcoin mining to Paraguay, building an industrial chain from mining machine custody to mining machine production. While bringing economic benefits to Paraguay, it will also create more high-quality employment opportunities for Paraguayans," Mr. Huang concluded.

Paraguay President Santiago Pena and Minister Barchini expressed agreement with Mr. Huang's ideas and plans and welcomed international companies like Future FinTech to develop business in Paraguay.