Greenpro’s Digital Asset Exchange, Green-X is Awarded by ESGAM for Establishment of Carbon Credit Tokenization Platform
- None.
- None.
The introduction of the world's first Shariah-compliant Carbon Credit Tokenization Platform by Greenpro Capital Corp. represents a significant innovation at the intersection of digital finance and environmental, social and governance (ESG) initiatives. This development could potentially attract a new demographic of investors interested in ethical and ESG-compliant investments, thus broadening the company's investor base and potentially increasing liquidity.
From a financial perspective, the platform's ability to provide Security Token Offerings (STOs) for small and medium enterprises (SMEs) could facilitate access to capital for businesses that are typically underserved by traditional financial services. This could lead to an increase in transaction volumes and fees generated by the exchange, ultimately contributing positively to Greenpro's revenue streams.
However, the success of such a platform hinges on widespread adoption and regulatory compliance, particularly as it pertains to international standards for Shariah compliance and ESG reporting. The market's response to this innovative platform and its alignment with global decarbonization trends will be key factors in determining its long-term impact on the company's financial health.
The recognition by the ESG Association Malaysia underscores the strategic relevance of Greenpro's platform in promoting sustainable practices. The ESG Quick Start Guide for SMEs (ESG101) is a critical tool that could empower SMEs to adopt ESG practices, which is increasingly important as investors and consumers alike demand greater corporate responsibility.
For stakeholders, the long-term benefits include potential improvements in brand reputation, customer loyalty and compliance with evolving regulations, which could mitigate risks and enhance competitive advantage. Conversely, the intricacies of establishing a robust ESG framework, particularly within ASEAN markets, could present challenges in terms of standardization and enforcement.
It is essential to monitor the effectiveness of these initiatives in driving actual ESG adoption and in translating these efforts into tangible financial performance improvements for participating SMEs and Greenpro Capital itself.
The Shariah-compliant aspect of Greenpro's Digital Asset Exchange, Green-X, is particularly noteworthy as it taps into the growing market of Islamic finance, which places emphasis on ethical and socially responsible investing. The compliance with Shariah law could attract Islamic investors who are looking for permissible avenues to invest in environmental and sustainable projects.
For the industry, this represents an innovative blend of traditional Islamic financial principles with modern ESG concerns, potentially setting a precedent for future financial products. The platform's alignment with Shariah principles must be maintained meticulously to retain credibility and trust among its target investors.
The potential for this platform to facilitate the raising of funds for business development in a manner consistent with Islamic law could have a positive impact on the financial inclusion of SMEs in predominantly Muslim regions or countries.
KUALA LUMPUR, MALAYSIA / ACCESSWIRE / December 22, 2023 / Greenpro Capital Corp. (NASDAQ:GRNQ) today announced that the company's Digital Asset Exchange, Green-X have been accorded a special Appreciation Award from ESG Association Malaysia ("ESGAM") for the establishment of the world's first Shariah-compliant Carbon Credit Tokenization Platform and for its contribution to ESG initiatives in Malaysia.
Green-X, the world first Shariah Compliant ESG Digital Asset Exchange, which was launched back in September 2022 to help the small and medium entrepreneurs to gain access to alternative regulated fundraising platforms, evolve financial products and promote greater financial inclusivity. Its core product, Security Token Offering ("STO") aims to help the underserved businesses in digitalizing, securitizing, and tokenizing their illiquid assets and eventually raise funds for business development.
Due to the world's trend moving towards ESG and decarbonization, we are expecting many international issuers to list on our Shariah Compliant ESG Digital Asset Exchange.
President of ESG Association of Malaysia, Mr. Cheah Kok Hoong said, "We appreciate Green-X's contribution to ESGAM for the establishment of ESG Quick Start Guide for SMEs ("ESG101") to help our members and SMEs in adopting ESG practices. We strongly believe that this ESG101 represents a small step forward for our Association, but a giant leap forward for ASEAN countries in embracing ESG initiatives.
Greenpro CEO, Dr. CK Lee said, "Labuan and Malaysia will play a key role in the future of carbon credit tokenization. We will actively work with the regulators, finance and industry partners in ASEAN region to establish Green-X as a digital hub for carbon credit tokenization."
About ESG Association of Malaysia
ESG Association of Malaysia originates from the experiences of professionals coming from the business, academic, financial, legal world and the third sector, which is a need in aiding Malaysia to contribute to its transition towards sustainability.
We aspire to be the catalyst, facilitator, and enabler for ESG adoption and development in Malaysia, delivering on the Sustainable Development Goals (SDG17) call to action plan adopted by The United Nations.
ESGAM's website can be found at https://esgmalaysia.org/
About Green-X Corp.
Green-X Corp. (Green-X) is a wholly owned subsidiary of Greenpro Capital Corp (NASDAQ:GRNQ). Green-X is a licensed Exchange operator under Labuan Financial Services Authority (LFSA), Malaysia.
Green-X operates the world's first Shariah-compliant ESG Digital Asset Exchange. Our exchange will facilitate the monetization of assets currently not available for Public Investment. Creating the first exchange of its kind, Green-X expects to capitalize on a previously nearly untapped market in the ASEAN region, helping the underserved businesses in securitize, capitalize and digitalize their illiquid assets.
Our exchange will be onboarding and facilitating the trading of Tokens, Stable Coins, and other Digitized Assets. Priority and focus will be given to assets that are in line with ESG and carbon free principles.
The Green-X exchange can be found at https://www.green-x.io/
About Greenpro Capital Corp.
Headquartered in Kuala Lumpur and a Nevada corporation, Greenpro Capital Corp. (NASDAQ: GRNQ), is a business incubator with strategic offices across Asia. With a diversified business portfolio comprising of finance, technology, banking, CryptoSX and Green-X for STOs, health, wellness and fine art as well as 30 years of experience in various industries, Greenpro has been assisting and supporting businesses and High-Net-Worth-Individuals to capitalize and securitize their value on a global scale. This is done through the provision of cross-border business solutions, spinoffs on major stock exchanges and accounting outsourcing services to small and medium-size businesses located in Asia. The comprehensive range of cross-border business services include, but are not limited to, trust and wealth management, listing advisory services, transaction services, cross-border business solutions, record management services, accounting outsourcing services and tax advisory services. Greenpro also operates venture capital businesses, including business development for start-ups and high growth companies.
For further information regarding the company, please visit http://www.greenprocapital.com.
Forward-Looking Statements
This press release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company's financial position and business strategy. The words or phrases "plans," "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "think," "considers" or similar expressions are intended to identify "forward-looking statements." These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of local, regional, and global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
GRNQ has 7,575,813 million shares issued and outstanding with a float of 3,831,677 shares.
Gilbert Loke, CFO, Director
Greenpro Capital Corp.
Email: ir.hk@greenprocapital.com
Phone: +852-3111 7718
Contact Dennis Burns. Investor Relations.
Tel (567) 237-4132
dburns@nvestrain.com
Phone: +603-2201 3192
mycorp@greenprocapital.com
SOURCE: Greenpro Capital Corp.
View the original press release on accesswire.com
FAQ
What award did Greenpro Capital Corp. (NASDAQ:GRNQ) receive from ESG Association Malaysia?
What is Green-X?
What is the core product of Green-X?
What is the future outlook for Green-X?
What role will Labuan and Malaysia play in the future of carbon credit tokenization according to Greenpro CEO, Dr. CK Lee?
