- A Chinese solar material manufacturer will be linked to the first tokenized assets, or “notes.”
In order to tokenize real-world assets (RWAs) with an emphasis on environmental, social, and governance (ESG) assets, Sui, a Layer-1 blockchain, has announced a strategic relationship with Ant Digital, the technology division of China’s Ant Group.
According to a recent press release from the company, the first tokenized assets, or “notes,” will be connected to a Chinese solar material producer that is listed among the Fortune China Top 500.
ZAN Provides Web3 Tools
ZAN, which was introduced in September 2023, provides plug-and-play solutions that are fueled by the open-source AntChain Open Labs TrustBase stack.
The product suite supports the issuance and administration of tokenized RWAs and offers solutions for Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance.
The alliance is an extension of earlier partnerships. The original developer of the Sui blockchain will become an operator of Remote Procedure Call (RPC) nodes in August.
Since forming our collaboration in August, we have already accomplished yet another noteworthy milestone. Sui is a well-known public chain with a robust ecosystem and a wide range of applications that is committed to technology and wealth creation.
In the future, we intend to keep offering more RWA projects a variety of cutting-edge technological services, particularly in the new energy sector, so that our technology may more effectively aid in the growth of the actual economy.
Sui’s ecosystem is still growing, with a total value locked (TVL) of around $2 billion.
The non-custodial Backpack Wallet was made accessible through the blockchain’s connection with Backpack Exchange, which was revealed on December 11.
The rise of ESG tokenization is consistent with larger green finance projects.
China’s dedication to sustainable financial systems is demonstrated by its participation in the China-Singapore Green Finance Taskforce.
As part of its Green Bond Program, Hong Kong has issued tokenized green bonds valued at 800 million Hong Kong dollars ($100 million), demonstrating similar efforts.
Tokenized ESG initiatives are becoming more popular outside of China. An energy finance company called PowerDime offers virtual wind and solar power purchase agreements through its tokenized renewable energy trading platform on the Layer-1 Chintai blockchain.
By 2030, the tokenization market may grow to $16 trillion
According to a research by the Global Financial Markets Association (GFMA) and the Boston Consulting Group, tokenized illiquid assets are predicted to have a global value of $16 trillion by 2030.
Big businesses are taking big steps in the tokenization field after realizing its potential.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
