Greenpro Capital Corp. announced that Malaysia’s Labuan Financial Services Authority has granted a license to Greenpro Capital Corp. to establish and operate the world’s first Shariah Compliant ESG Digital Assets Exchange.

In 2021, the crypto market’s value skyrocketed from $965 billion to as much as $2.6 trillion, according to a Morningstar analysis of data from CoinGecko. The market capitalization now sits around $2.1 trillion.

Meanwhile, developments within the cryptocurrency market, like Digital Assets, non-fungible tokens (NFTs) and decentralized finance (DeFi), which offers financial instruments like cyrpto lending via blockchain technology instead of traditional intermediaries like banks, have captured people’s interest and attention.

Malaysia’s Labuan was first declared as an International Offshore Financial Centre and Free Trade Zone back in 1990. The set-up Labuan FSA in 1996 by the Government as a single regulator has seen the number of active companies reaching 5,200 from over 125 countries, including well-known banks such as HSBC, DBS, Sumitomo, BNP Paribas, Goldman Sachs etc.

See related article: CleanSpark Partners With Sustainable Bitcoin Standard to Double Down on Clean Bitcoin Mining

Greenpro Capital Corp.’s CEO, Dr. Lee Chong Kuang said, “Parallel to the rapid growth of the cryptocurrency industry is the rapid growth of cryptocurrency regulation, STO is considered to be a very efficient method of alternative financing. Due to the world’s trend moving towards ESG and decarbonization, and the successful track record in our CryptoSX Digital Exchange, we are expecting a large number of international issuers to list on our Shariah Compliant ESG Digital Asset Exchange.”

Source: Greenpro Capital Corp.