Future FinTech's asset management arm can now manage virtual assets

Nice Talent Asset Management, a 90% owned Hong Kong-based subsidiary of Future FinTech Group (NASDAQ:FTFT), has become eligible to manage virtual assets if the asset class consists of less than 10% of its portfolios' gross asset value. The asset manager must comply with the regulatory requirements issued by the Securities and Futures Commission of Hong Kong ("SFC") in order to engage in the management of virtual assets. NTAM's business partners include major international banks and its clients are comprised of high net worth clients. It "believes that virtual assets can be an important holding in risk-weighted investment portfolios as it has matured as an asset class and represents an evolution in investment strategy," the company said Monday. Moreover, "we believe that this strategic asset will further bolster NTAM's ability to offer investment opportunities and best-in-class asset management and investment consulting services for institutional investors and high net worth investors in Hong