HomeEquities ScoreWhat is causing FinTech Group Inc.'s (FTFT) share price to move today?

What is causing FinTech Group Inc.’s (FTFT) share price to move today?

Future FinTech Group Inc. (NASDAQ: FTFT) shares soared 64.88% to $2.7 in the pre-market ‎after the report of Blocknance Financial International SRL, headquartered in the Dominican ‎Republic, and its shareholders signed a term sheet with the (Company) FTFTon December ‎‎30, 2020. As part of the Term Sheet, Blocknance intends to purchase 60% of the total issued ‎and outstanding shares.‎

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Blocknance provides services for transactions between Bitcoin and fiat currencies, such as ‎Dominican Peso, US dollar, Euro, and Russian Ruble, through Bitcoin ATMs and physical ‎office locations.‎


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Crypto can SRL, a subsidiary of the Blocknance, works with financial consulting firms to help ‎clients buy, rent, and sell real estate using cryptocurrencies; ‎

Blockchain Finance International is incorporated in Wyoming, US, and officially registered ‎with the Financial Crimes Enforcement Network as a money services business. ‎

Meanwhile, The Future FinTech Group Inc. is an e-commerce company specializing in ‎blockchain technology and a service provider of financial technology.‎

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Currently, Blocknance is valued at $1.6 million, as per the framework agreement. ‎
Future FinTech or its wholly-owned subsidiary intends to acquire 60% of Blocknance for ‎US $960,000 in cash and shares.‎

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