- The new Green-X expects at least 10 token issuers to join by year-end
- Asset tokenization market is expected to grow 50x to $16.1 trillion by 2030
Greenpro Capital Corp. 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 in April 2022. The launch was officiated by LFSA, International Shariah Research Academy, ESG Global and SME Association of Malaysia.
There are four Digital Asset Exchange (“DAX”) Listing Sponsors engaged by Green-X, namely BBS Trust International Limited, Gan & Zul Advocates & Solicitors, SEATech Ventures Corp and Ata Global Inc. 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.
See related article: Green Exchange To Create First Dedicated “Green” Equities Exchange in the United States
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.
Greenpro CEO, Dr. CK Lee said, “Due to the world’s trend moving towards ESG and decarbonization, and the strong fundamental of Halal economy, we are confident to build Green-X as world largest STO platform in the very near future. We will continuously create and deliver more value to our shareholders.”
Source: Green Capital Corp.