Layer 1 blockchain Sui and China’s Ant Digital will collaborate to tokenize real-world assets. They plan to focus on assets in the environmental, social and governance (ESG) space.
Tokenization of Chinese solar assets
Assets called ‘notes’ by partners of a Chinese solar materials manufacturer selected as one of Fortune China’s top 500 companies are the first to be listed on the exchange. The statement provided to Cointelegraph did not specify the manufacturer. Cobe Zhang, Web3 product lead at Ant Digital Technologies, said:
“We hope to continue to provide a variety of advanced technology 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, the operator of the large Alipay payment network. Ant Digital started its independent business last April.
ZAN is an Ant Digital brand that provides a suite of plug-and-play tools based on the AntChain Open Labs TrustBase open source technology stack. Introduced in September 2023, it is designed for the issuance and management of tokenized real-world assets. Its product line includes know-your-customer and anti-money laundering solutions.
ZAN integrated with Sui’s original contributor Mysten Labs as a remote procedure call (RPC) node operator last August. RPC allows users to communicate with servers on other networks.
On December 11, Sui announced integration with Backpack Exchange and access to the non-custodial Backpack Wallet. In November, investment firm VanEck launched its Sui financial product, followed by a similar move by Grayscale in August. The total value of the Sui network is approximately $2 billion.
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Regenerative finance is spreading
Web3 ESG, green and sustainable projects are often collectively referred to as Regenerative Finance (ReFi). China has previously shown interest in green finance, most notably through the People’s Bank of China and the Monetary Authority of Singapore’s China-Singapore Green Finance Task Force.
source: I will
The Hong Kong government has issued HK$800 million (about $100 million) in tokenized green bonds as part of its green bond program.
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 contracts.
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