GreenX Targets 10 to 15 Security Token Launches in 2024

KUALA LUMPUR, MALAYSIA / ACCESSWIRE / May 7, 2024 / Greenpro Capital Corp. (NASDAQ:GRNQ) GreenX, the leading Shariah-Compliant ESG Digital Asset Exchange licensed by Labuan FSA, will be going for at least 10 tokenized offerings by end of year 2024, Chief Exchange Officer Philip Tam told IFN Investor, a leading digital Islamic finance publication. Full publication of the news can be found at https://articles.ifninvestor.com/green-x-eyeing-10-15-token-launches-i ...

Philip Tam highlights the next Security Token Offering ("STO"), with initial tokenized listing around US$20 mil, would be the largest gemstones collection in Southeast Asia, "These Real-World Assets ("RWA") - whether sapphire, rubies, emeralds or diamonds - each have a Gemological Research Association report to certify their intrinsic values."

In accordance to its ESG initiative, GreenX would also be pushing for three green sustainable technology projects from Indonesia, including a perpetual electromagnet generator, waste engine oil to green diesel catalyst, and pure drinking water creation. These projects can then potentially produce carbon credits to reward both the issuers and retail investors, "Our then tokenized carbon credits will be for small players like farms and SMEs, and even the average person keen to contribute to helping Earth's environment."

Asked why Green-X chose to be Shariah compliant, Philip said its ESG focus was well aligned with Muslim principles. He further noted how this extended the potential investor base to an estimated 1.9 billion Muslims around the globe, in addition to Green-X's main market of around 1.5 billion residents in China.

The Green-X tokenization process is equity-based because this creates what it considers to be the right structure to put the RWA into a corporate entity, with the shares then tokenized. "The shareholder registry is on a blockchain, which effectively gives the investor the same as a company shareholder's rights. This is our approach at Green-X … we are tokenizing a real-world instrument so that it will survive and flourish."

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