Green-X Aims to Serve as Marketplace for Digitization and Tokenization of International Islamic Finance

KUALA LUMPUR, MALAYSIA / ACCESSWIRE / September 20, 2022 / Greenpro Capital Corp. (NASDAQ:GRNQ) today announced it had launched the World's first Shariah-Compliant ESG Digital Asset Exchange, Green-X. Greenpro Capital was granted the license to operate such exchange by Malaysia's Labuan Financial Services Authority ("LFSA") in April 2022. The launch was officiated by LFSA, International Shariah Research Academy ("ISRA"), ESG Global and SME Association of Malaysia.

https://www.youtube.com/watch?v=T4Ock-Uxs28

There are four Digital Asset Exchange ("DAX") Listing Sponsor engaged by Green-X, namely

1. BBS Trust International Limited - Labuan, Malaysia
2. Gan & Zul Advocates & Solicitors - Malaysia
3. SEATech Ventures - Hong Kong
4. Ata Global Inc. - Singapore

Green-X is expecting at least 10 token issuers to come on board by the end of this year, including Cattle Queen Ranch and Koperasi Bersatu Tenaga Malaysia Berhad ("KOBETA").

According to global consulting firm BCG, the asset tokenization market will grow 50 times from US$310 billion in this year, to US$16.1 trillion by 2030, driven by demand from a wide range of investors for greater access to private markets. Tokenization and fractionalization of assets lower barriers to investment in private markets by sharply reducing minimum lot sizes.

There is growing awareness among global investors of the synergy between ESG (environmental, social and governance) investing and Islamic finance, contributing to the rising appetite for Shariah-compliant investments as investors look for greater portfolio diversification and an alternative to more traditional ESG investments.

Islamic finance and ESG investing are complementary investment approaches sharing significant common ground, such as being a good steward to the society and the environment. Both offer products that appeal to Muslim and non-Muslim investors alike, and hold strong practices and policies that each can learn from the other.

The launch of Green-X is in line with the initiatives under the Labuan IBFC Blueprint to promote Labuan as a well-recognised Islamic International Centre. The Exchange is expected to be the main driver in contributing to the establishment of Islamic Digital Asset Center, or IDAC, embracing digital innovations to transform businesses beyond conventional model to improve market access, evolve financial products and promote greater financial inclusivity.