KUALA LUMPUR, MALAYSIA / ACCESSWIRE / December 19, 2023 / Greenpro Capital Corp. (NASDAQ:GRNQ) today announced its ambitious venture into the burgeoning field of carbon credit tokenization. This Business Expansion will be conducted through its wholly owned subsidiary, Green-X (A Digital Asset Exchange Licensed by Labuan Financial Services Authority, Malaysia).
The global trend of decarbonization lead to a surge in demand for carbon credits which in turn lead to the valuation of carbon credit markets at US$ 25.35 Billion in 2022 and these markets are expected to reach US$145.04 Billion in valuation by 2030 at a CAGR of 24.4% between 2023 and 2030.
The total value of carbon credits traded in the market to help entities achieve their net zero goals can be worth $1 trillion as early as 2037, according to a recent report by BloombergNEF.
Revolutionizing the Carbon Market
Carbon credit tokenization represents a significant leap forward in the battle against climate change. By converting carbon credits into digital tokens on Green-X, a digital asset exchange based on blockchain technology. Blockchain enables increased transparency by storing data and transactions on a distributed ledger that is available to everyone on the network. Blockchain can be used for the selling of carbon credits while bringing together small buyers for carbon offset projects due to its transparency.
Greenpro Capital CEO Dr. CK Lee said “To achieve humanity’s common goal of achieving carbon neutrality, Green-X intends to partner with key players in the ESG and carbon credit industries, including Voluntary Carbon Market (VCM) and Regulatory Compliance Market (RCM).”
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.
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.