Sui Blockchain and Ant Digital, the technology subsidiary of China’s Ant Group, have signed a partnership agreement to use tokens to facilitate the tokenization of real-world assets (RWAs), emphasizing ESG initiatives. This cooperation will result in agreements that create new blockchain-based financial products for sustainable development and effective governance.
Tokenizing ESG assets with Sui and Ant Digital
As per the recent press release, the partnership’s first tokenized assets, “notes,” will be tied to a Chinese solar material manufacturer listed in the Fortune China Top 500. This initial launch reflects the growing integration of blockchain in green finance and sustainable development. Ant Digital’s ZAN platform will power this project’s technology.
AntChain Open Labs introduced ZAN in September 2023 as a tool built on the TrustBase framework. It is used to create and control linked real-world assets (RWAs) and follow legal requirements such as KYC and AML.
This ensures compliance with regulations to ensure that tokenized financial products come with the strength needed in their solutions.
Ant Digital began operating in April 2024, establishing itself as a key player in blockchain solutions. It strengthened its links with Mysten Labs, which is one of the main contributors to the Sui blockchain, in August by becoming an RPC node operator.
Sui Blockchain expands sustainable finance initiatives
investors are still interested in the Sui blockchain. After Grayscale made a similar step in August, VanEck introduced a financial product based on Sui in November. The ecosystem demonstrates its expanding impact in the blockchain space with approximately $2 billion in total value locked (TVL).
Moreover, on Dec. 11, Sui announced an integration with Backpack Exchange, granting users access to the non-custodial Backpack Wallet. This step supports the network’s goal to improve the user experience and make it easier for more people to access.
Globally, tokenized ESG initiatives are gaining traction. For instance, PowerDime operates a renewable energy trading platform on the Layer-1 Chintai blockchain, highlighting the increasing role of blockchain in green finance. Similarly, China’s emphasis on ESG efforts, shown by its China-Singapore Green Finance Taskforce, supports what Sui is doing.
Nevertheless, by prioritizing ESG tokenization, Sui Blockchain and Ant Digital set a precedent for integrating blockchain technology with sustainable development. Their partnership highlights a forward-thinking approach to addressing global challenges through innovation.
Related | BiT Global files lawsuit against Coinbase over WBTC delisting
