Real World Web3
Dec 16, 2024
Real World Web3
Real World Web3
Sui Brings ESG Backed Real World Assets (RWAs) Onchain with Ant Digital Tie-Up
Sui partnered with Ant Digital to explore tokenization in the ESG niche.
The L1 blockchain said the initiative positioned it to catalyze global adoption of RWA tokenization.
The development came amid a growing demand for merging physical assets with the Web3 world.
Layer-1 blockchain Sui plans to bring tokenized assets to its network following a strategic partnership with China’s Ant Digital Technologies and its Web3 plug-and-play tools and services provider, ZAN.
Sui’s move to tap into the $13 billion Real World Asset (RWA) tokenization market came barely a day after Step Finance, a leading crypto analytics dashboard provider, announced an upcoming launch of tokenized NASDAQ stock trading on the Solana blockchain, underscoring the growing institutional and retail interest in merging physical assets with blockchain technology. Step Finance acquired early-stage startup Moose Capital and rebranded it to Remora to spearhead its tokenization business.
Sui Follows in Solana’s Footsteps with Tokenization Initiative
In an announcement on December 13, Sui said the tie-up with Ant Digital and ZAN seeks to pioneer ESG-backed green assets tokenization on its L1 network and accelerate the global assimilation of RWAs into the Web3 industry.
ESG is an acronym for environmental, social, and governance, a framework used to evaluate an organization’s business practices and their impact on the environment. Green assets in this category refer to financial instruments that can be used to fund environmentally beneficial projects, such as renewable energy causes.
With the ESG reporting industry expected to eclipse $1.5 billion by 2027 on the back of blockchain-led initiatives and RWA garnering mainstream adoption, tokenizing green assets is a trend with strong financial undercurrents for support at industry and government levels.
While the Sui team didn’t specify the roles of its partners in the initiative, it clarified that the tokenized assets would be held by an “award-winning” technology firm and international manufacturer of solar materials. “They were listed among Fortune China’s Top 500, included on Wall Street CN’s ESG Awards,” Sui claimed.
“Tokenizing the ESG market is an incredible step forward for real world assets. Through this partnership, investors will have access to a whole new market, and it’s all happening on the platform most suited for it, Sui.” Jameel Khalfan, Head of Ecosystem Development at Sui Foundation, said.
According to the statement, the Sui Foundation, the independent organization overseeing Sui’s growth and development, participated in the initiative as an anchor investor focused on promoting RWA to support the development of “real” industries.
Cobe Zhang, Head of Web3 Product at Ant Digital Technologies, echoed the Sui Foundation’s mission, noting that Ant was ready to provide ongoing “advanced’ technical services to more RWA projects in the burgeoning energy sector. Since debuting independent operations in April 2024, Ant has developed several commercialized product brands, including ZOLOZ, mPaaS, and ZAN.
The move by Sui and the other two companies to advance the tokenization of green assets underscores blockchain technology’s potential to catalyze renewable and ESG investing initiatives.
How Tokenization Changes the Game
By leveraging distributed ledger technology, tokenization creates an immutable and transparent record of ESG green assets like carbon credits, ensuring that each transaction involved with the financial instruments is permanently recorded and open to public verification. Such a high level of transparency is crucial for meeting stringent standards set by reputable oversight organizations, such as the Global Reporting Initiative and the Sustainability Accounting Standards Board.
Tokenization introduces the benefits of standardizing green assets across multiple markets and jurisdictions, creating a universally tradable commodity that can comply with current regulations and seamlessly integrate into existing corporate reporting frameworks. At the same time, it automates trading and verification processes via smart contracts, reducing the costs associated with ESG transactions to level the playground for all players.
Sui’s move to embrace ESG-backed asset tokenization is the latest development in a remarkable positive run for the L1 ecosystem, which is nearing $2 billion in total value locked (TVL), according to DefiLlama data.
Over the past month, Sui witnessed tremendous retail growth across its lending protocols and decentralized exchanges (DEXs), such as Navi, Suilend, Aftermath, Cetus, and DeepBook, pushing it to claim a spot among the top 10 blockchains.
The blockchain network also received massive institutional support, with giant asset managers like Grayscale and VanEck integrating the SUI token with their investment products that are accessible to millions of users.
CoinMarketCap data shows that at press time, SUI traded at $4.81, having gained over 640% in the last year.
Sui partnered with Ant Digital to explore tokenization in the ESG niche.
The L1 blockchain said the initiative positioned it to catalyze global adoption of RWA tokenization.
The development came amid a growing demand for merging physical assets with the Web3 world.
Layer-1 blockchain Sui plans to bring tokenized assets to its network following a strategic partnership with China’s Ant Digital Technologies and its Web3 plug-and-play tools and services provider, ZAN.
Sui’s move to tap into the $13 billion Real World Asset (RWA) tokenization market came barely a day after Step Finance, a leading crypto analytics dashboard provider, announced an upcoming launch of tokenized NASDAQ stock trading on the Solana blockchain, underscoring the growing institutional and retail interest in merging physical assets with blockchain technology. Step Finance acquired early-stage startup Moose Capital and rebranded it to Remora to spearhead its tokenization business.
Sui Follows in Solana’s Footsteps with Tokenization Initiative
In an announcement on December 13, Sui said the tie-up with Ant Digital and ZAN seeks to pioneer ESG-backed green assets tokenization on its L1 network and accelerate the global assimilation of RWAs into the Web3 industry.
ESG is an acronym for environmental, social, and governance, a framework used to evaluate an organization’s business practices and their impact on the environment. Green assets in this category refer to financial instruments that can be used to fund environmentally beneficial projects, such as renewable energy causes.
With the ESG reporting industry expected to eclipse $1.5 billion by 2027 on the back of blockchain-led initiatives and RWA garnering mainstream adoption, tokenizing green assets is a trend with strong financial undercurrents for support at industry and government levels.
While the Sui team didn’t specify the roles of its partners in the initiative, it clarified that the tokenized assets would be held by an “award-winning” technology firm and international manufacturer of solar materials. “They were listed among Fortune China’s Top 500, included on Wall Street CN’s ESG Awards,” Sui claimed.
“Tokenizing the ESG market is an incredible step forward for real world assets. Through this partnership, investors will have access to a whole new market, and it’s all happening on the platform most suited for it, Sui.” Jameel Khalfan, Head of Ecosystem Development at Sui Foundation, said.
According to the statement, the Sui Foundation, the independent organization overseeing Sui’s growth and development, participated in the initiative as an anchor investor focused on promoting RWA to support the development of “real” industries.
Cobe Zhang, Head of Web3 Product at Ant Digital Technologies, echoed the Sui Foundation’s mission, noting that Ant was ready to provide ongoing “advanced’ technical services to more RWA projects in the burgeoning energy sector. Since debuting independent operations in April 2024, Ant has developed several commercialized product brands, including ZOLOZ, mPaaS, and ZAN.
The move by Sui and the other two companies to advance the tokenization of green assets underscores blockchain technology’s potential to catalyze renewable and ESG investing initiatives.
How Tokenization Changes the Game
By leveraging distributed ledger technology, tokenization creates an immutable and transparent record of ESG green assets like carbon credits, ensuring that each transaction involved with the financial instruments is permanently recorded and open to public verification. Such a high level of transparency is crucial for meeting stringent standards set by reputable oversight organizations, such as the Global Reporting Initiative and the Sustainability Accounting Standards Board.
Tokenization introduces the benefits of standardizing green assets across multiple markets and jurisdictions, creating a universally tradable commodity that can comply with current regulations and seamlessly integrate into existing corporate reporting frameworks. At the same time, it automates trading and verification processes via smart contracts, reducing the costs associated with ESG transactions to level the playground for all players.
Sui’s move to embrace ESG-backed asset tokenization is the latest development in a remarkable positive run for the L1 ecosystem, which is nearing $2 billion in total value locked (TVL), according to DefiLlama data.
Over the past month, Sui witnessed tremendous retail growth across its lending protocols and decentralized exchanges (DEXs), such as Navi, Suilend, Aftermath, Cetus, and DeepBook, pushing it to claim a spot among the top 10 blockchains.
The blockchain network also received massive institutional support, with giant asset managers like Grayscale and VanEck integrating the SUI token with their investment products that are accessible to millions of users.
CoinMarketCap data shows that at press time, SUI traded at $4.81, having gained over 640% in the last year.
Sui partnered with Ant Digital to explore tokenization in the ESG niche.
The L1 blockchain said the initiative positioned it to catalyze global adoption of RWA tokenization.
The development came amid a growing demand for merging physical assets with the Web3 world.
Layer-1 blockchain Sui plans to bring tokenized assets to its network following a strategic partnership with China’s Ant Digital Technologies and its Web3 plug-and-play tools and services provider, ZAN.
Sui’s move to tap into the $13 billion Real World Asset (RWA) tokenization market came barely a day after Step Finance, a leading crypto analytics dashboard provider, announced an upcoming launch of tokenized NASDAQ stock trading on the Solana blockchain, underscoring the growing institutional and retail interest in merging physical assets with blockchain technology. Step Finance acquired early-stage startup Moose Capital and rebranded it to Remora to spearhead its tokenization business.
Sui Follows in Solana’s Footsteps with Tokenization Initiative
In an announcement on December 13, Sui said the tie-up with Ant Digital and ZAN seeks to pioneer ESG-backed green assets tokenization on its L1 network and accelerate the global assimilation of RWAs into the Web3 industry.
ESG is an acronym for environmental, social, and governance, a framework used to evaluate an organization’s business practices and their impact on the environment. Green assets in this category refer to financial instruments that can be used to fund environmentally beneficial projects, such as renewable energy causes.
With the ESG reporting industry expected to eclipse $1.5 billion by 2027 on the back of blockchain-led initiatives and RWA garnering mainstream adoption, tokenizing green assets is a trend with strong financial undercurrents for support at industry and government levels.
While the Sui team didn’t specify the roles of its partners in the initiative, it clarified that the tokenized assets would be held by an “award-winning” technology firm and international manufacturer of solar materials. “They were listed among Fortune China’s Top 500, included on Wall Street CN’s ESG Awards,” Sui claimed.
“Tokenizing the ESG market is an incredible step forward for real world assets. Through this partnership, investors will have access to a whole new market, and it’s all happening on the platform most suited for it, Sui.” Jameel Khalfan, Head of Ecosystem Development at Sui Foundation, said.
According to the statement, the Sui Foundation, the independent organization overseeing Sui’s growth and development, participated in the initiative as an anchor investor focused on promoting RWA to support the development of “real” industries.
Cobe Zhang, Head of Web3 Product at Ant Digital Technologies, echoed the Sui Foundation’s mission, noting that Ant was ready to provide ongoing “advanced’ technical services to more RWA projects in the burgeoning energy sector. Since debuting independent operations in April 2024, Ant has developed several commercialized product brands, including ZOLOZ, mPaaS, and ZAN.
The move by Sui and the other two companies to advance the tokenization of green assets underscores blockchain technology’s potential to catalyze renewable and ESG investing initiatives.
How Tokenization Changes the Game
By leveraging distributed ledger technology, tokenization creates an immutable and transparent record of ESG green assets like carbon credits, ensuring that each transaction involved with the financial instruments is permanently recorded and open to public verification. Such a high level of transparency is crucial for meeting stringent standards set by reputable oversight organizations, such as the Global Reporting Initiative and the Sustainability Accounting Standards Board.
Tokenization introduces the benefits of standardizing green assets across multiple markets and jurisdictions, creating a universally tradable commodity that can comply with current regulations and seamlessly integrate into existing corporate reporting frameworks. At the same time, it automates trading and verification processes via smart contracts, reducing the costs associated with ESG transactions to level the playground for all players.
Sui’s move to embrace ESG-backed asset tokenization is the latest development in a remarkable positive run for the L1 ecosystem, which is nearing $2 billion in total value locked (TVL), according to DefiLlama data.
Over the past month, Sui witnessed tremendous retail growth across its lending protocols and decentralized exchanges (DEXs), such as Navi, Suilend, Aftermath, Cetus, and DeepBook, pushing it to claim a spot among the top 10 blockchains.
The blockchain network also received massive institutional support, with giant asset managers like Grayscale and VanEck integrating the SUI token with their investment products that are accessible to millions of users.
CoinMarketCap data shows that at press time, SUI traded at $4.81, having gained over 640% in the last year.
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