KUALA LUMPUR, MALAYSIA / ACCESSWIRE / September 19, 2022 / Greenpro Capital Corp. (NASDAQ:GRNQ) today announced it had launched the World’s first Shariah-Compliant ESG Digital Asset Exchange, Green-X. Greenpro Capital was granted the license to operate such exchange by Malaysia’s Labuan Financial Services Authority (“LFSA”) in April 2022. The launch was officiated by LFSA, International Shariah Research Academy (“ISRA”), ESG Global and SME Association of Malaysia.
There are four Digital Asset Exchange (“DAX”) Listing Sponsor engaged by Green-X, namely BBS Trust International Limited, Gan & Zul Advocates & Solicitors, SEATech Ventures Corp and Ata Global Inc. Green-X is expecting at least 10 token issuers to come on board by the end of this year, including Cattle Queen Ranch and Koperasi Bersatu Tenaga Malaysia Berhad (“KOBETA”).
According to global consulting firm BCG, the asset tokenization market will grow 50 times from US$310 billion in this year, to US$16.1 trillion by 2030, driven by demand from a wide range of investors for greater access to private markets. Tokenization and fractionalization of assets lower barriers to investment in private markets by sharply reducing minimum lot sizes.
The launch of Green-X is in line with the initiatives under the Labuan IBFC Blueprint to promote Labuan as a well-recognised Islamic International Centre. The Exchange is expected to be the main driver in contributing to the establishment of Islamic Digital Asset Center, or IDAC, embracing digital innovations to transform businesses beyond conventional model to improve market access, evolve financial products and promote greater financial inclusivity.
Greenpro CEO, Dr. CK Lee said, “Due to the world’s trend moving towards ESG and decarbonization, and the strong fundamental of Halal economy, we are confident to build Green-X as world largest STO platform in the very near future. We will continuously create and deliver more value to our shareholders.”
About Labuan FSA
Labuan Financial Services Authority (“Labuan FSA”) was established on 15 February 1996 under the Labuan Financial Services Authority Act 1996. Labuan FSA is the statutory body responsible for the development and administration of the Labuan International Business and Financial Centre (“Labuan IBFC”).
The key objectives of Labuan FSA are to:
- Promote and develop Labuan as an international centre for business and financial services;
- Develop national objectives, policies and priorities for the orderly development and administration of international business and financial services in Labuan; and
- Act as the central regulatory, supervisory and enforcement authority of the international business and financial services industry in Labuan.
Labuan FSA licenses and regulates licensed entities operating within Labuan IBFC and to ensure all such entities remain in compliance with the Labuan laws and regulations and adhere to the international standards, which are adopted by the jurisdiction. Labuan FSA develops regulatory policies to ensure orderly conduct of business and financial services in Labuan IBFC.
For further information regarding the body, please visit https://www.labuanfsa.gov.my/default.aspx
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.
The Green-X exchange can be found at https://www.green-x.io/
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 7,867,188 million shares issued and outstanding with a float of 3,668,992 shares.