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A branch of China’s Ant Group and Sui will provide a Chinese solar material manufacturer with greater exposure with tokenized assets available onchain.
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Layer-1 blockchain Sui and China’s Ant Digital will work together to tokenize real-world assets. They plan to concentrate on assets in the environmental, social and governance (ESG) space.
Tokenizing Chinese solar assets
Assets, which the partners are calling “notes,” of a Chinese solar material manufacturer ranked in the Fortune China Top 500 will be the first to be listed on the exchange. The manufacturer was not named in a statement provided to Cointelegraph. Ant Digital Technologies head of Web3 product Cobe Zhang said:
“We hope to continuously provide various advanced technical services to more RWA projects, especially in the new energy sector, and our technology can better support the development of the real economy.”
Ant Digital is the technology arm of Ant Group, operator of the massive Alipay payment network. Ant Digital began independent operation in April.
ZAN is an Ant Digital brand that offers a suite of plug-and-play tools powered by the AntChain Open Labs TrustBase open-source technical stack. It was introduced in September 2023 and was designed for the issuance and management of tokenized real-world assets. Its product line includes solutions for Know Your Customer and Anti-Money Laundering.
ZAN integrated with Sui’s original contributor Mysten Labs in August as a Remote Procedure Call (RPC) node operator. RPC allows a user to communicate with a server on a different network.
On Dec. 11, Sui announced that it would integrate with Backpack Exchange and have access to the non-custodial Backpack Wallet. In November, investment firm VanEck introduced a Sui financial product, following a similar move by Grayscale in August. The Sui network has close to $2 billion in total value locked.
Related: Sui is growing due to great developer experience — Router CEO
Regenerative finance is spreading
Web3 ESG, green and sustainable projects are often referred to collectively as regenerative finance (ReFi). China has shown interest in green finance before, particularly in the People’s Bank of China and the Monetary Authority of Singapore’s China-Singapore Green Finance Taskforce.
Source: ZAN
The government of Hong Kong has issued 800 million Hong Kong dollars (around $100 million) in tokenized green bonds as part of its Green Bond Programme.
Energy finance company PowerDime has a tokenized renewable energy trading platform on the layer-1 Chintai blockchain. The platform features tokenized virtual wind and solar power purchase agreements.
Magazine: ‘China’s MicroStrategy’ Meitu sells all its Bitcoin and Ethereum: Asia Express
This article first appeared at Cointelegraph.com News
