Sui Blockchain partners with Ant Digital on tokenized ESG assets

Sui Blockchain and Ant Digital join forces to tokenize ESG assets, providing a Chinese solar material manufacturer with on-chain exposure to enhance sustainability and innovation.

Sui Blockchain has announced a new partnership with Ant Digital, a branch of China’s Ant Group, to tokenize real-world assets (RWAs). The collaboration aims to focus on the environmental, social, and governance (ESG) sector, providing innovative solutions for sustainable finance.

Bringing Chinese Solar Assets On-Chain

The partnership will debut by tokenizing assets—dubbed “notes”—of a Fortune China Top 500 solar material manufacturer. While the manufacturer’s identity remains undisclosed, this initiative marks a significant step in bridging traditional industries with blockchain technology. Cobe Zhang, Head of Web3 Product at Ant Digital Technologies, emphasized:

“We aim to deliver advanced technical services to RWA projects, particularly in the new energy sector, supporting the real economy through cutting-edge technology.”

Ant Digital operates as the tech arm of Ant Group, which is known for running the massive Alipay payment network. Having spun off as an independent entity in April, Ant Digital is now at the forefront of Web3 innovation.

About ZAN and Its Role

Ant Digital’s ZAN brand, introduced in September 2023, offers a suite of plug-and-play tools powered by AntChain Open Labs’ TrustBase open-source technical stack. Designed to facilitate the issuance and management of tokenized RWAs, ZAN’s product line includes essential solutions for Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance.

In August, ZAN integrated with Sui’s original contributor, Mysten Labs, as a Remote Procedure Call (RPC) node operator. This integration enables seamless communication between users and servers on different networks, strengthening Sui’s infrastructure and enhancing its scalability.

Sui’s Expanding Ecosystem

Sui’s ecosystem continues to grow with strategic integrations and financial products. On December 11, Sui announced its collaboration with Backpack Exchange, gaining access to the non-custodial Backpack Wallet. This follows significant developments such as VanEck’s Sui financial product launch in November and Grayscale’s introduction of a Sui fund in August. Notably, the Sui network currently boasts nearly $2 billion in total value locked (TVL).

The Rise of Regenerative Finance (ReFi)

The partnership aligns with the growing trend of regenerative finance (ReFi), which encompasses Web3 projects focused on ESG, sustainability, and green initiatives. China’s commitment to green finance is evident through initiatives like the China-Singapore Green Finance Taskforce, a collaboration between the People’s Bank of China and the Monetary Authority of Singapore.

Hong Kong has also demonstrated leadership in this space by issuing HK$800 million (approximately $100 million) in tokenized green bonds under its Green Bond Programme. Similarly, energy finance companies like PowerDime are leveraging blockchain technology for renewable energy trading, exemplified by tokenized agreements for virtual wind and solar power on the Chintai blockchain.

Wrapping up

The collaboration between Sui and Ant Digital signifies a pivotal moment for blockchain and sustainability. By integrating advanced tokenization solutions within the ESG sector, the partnership not only supports the real economy but also sets a precedent for the future of regenerative finance. As more projects adopt blockchain to drive innovation and transparency, the tokenization of assets promises to redefine industries and create a more sustainable world.

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