Crypto asset manager sets up Dubai business

Fintech Futures (FTFT) has launched a new subsidiary in Dubai to operate a crypto asset management and digital asset trading service.

The new business, FTFT Capital Investments, is hoping to grow into a full service, blockchain-based operation targeting global investors and high net-worth individuals.

For now, it will focus on the UAE market which FTFT describes as “a friendly country to blockchain technology and cryptocurrency”.

The move comes after FTFT signed an agreement in March to set up a joint venture in Dubai with blockchain firm, Shenzhen SOSOB Technology, whose SoBitX platform currently has more than 1.2 million registered users worldwide.

FTFT Capital has been established as a wholly-owned subsidiary and aims to acquire 100% ownership of Shenzhen SOSOB.

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