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Sui, a Layer-1 blockchain, has revealed a strategic alliance with Ant Digital, the technological division of China’s Ant Group, aimed at tokenizing real-world assets (RWAs) with an emphasis on environmental, social, and governance (ESG) assets.
The initial tokenized assets, termed “notes,” will be associated with a Chinese solar material manufacturer recognized among the Fortune China Top 500, as stated in a recent press release from the firm.
Ant Digital, which has been operating independently from Ant Group since April 2024, delivers blockchain-based solutions under its brand ZAN.
ZAN Provides Tools for Web3
Introduced in September 2023, ZAN offers plug-and-play tools powered by the AntChain Open Labs TrustBase open-source framework.
The product suite features solutions for Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance, facilitating the issuance and management of tokenized RWAs.
This partnership builds on earlier collaborations. In August, ZAN integrated with Mysten Labs, the original contributor to the Sui blockchain, by becoming a Remote Procedure Call (RPC) node operator.
“We formed our partnership in August and have now reached another important milestone. Sui is a prominent public chain focused on technology and value creation, boasting a rich ecosystem and a variety of applications,” stated Cobe Zhang, Head of Web3 Product at Ant Digital Technologies.
“Looking forward, we aim to consistently offer a range of advanced technical services to more RWA projects, particularly in the new energy sector, and our technology can enhance the development of the real economy.”
Sui’s network has attracted increasing interest from notable investors. In November, VanEck introduced a Sui-based financial product, following a similar initiative by Grayscale in August.
With nearly $2 billion in total value locked (TVL), Sui’s ecosystem continues to grow.
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On December 11, the blockchain announced an integration with Backpack Exchange, providing access to the non-custodial Backpack Wallet.
The ESG tokenization trend corresponds with broader efforts in green finance.
We’re excited to partner with @SuiNetwork to bring ESG-backed RWA assets onchain!
Together, we’re unlocking access to ESG-backed green assets, pioneering tokenization with a focus on sustainability, scalability, and innovation. https://t.co/Dy5S5Ci7xG— ZAN (@zan_team) December 13, 2024
China’s participation in the China-Singapore Green Finance Taskforce underscores its dedication to sustainable financial systems.
Similar initiatives are evident in Hong Kong, which recently issued tokenized green bonds valued at 800 million Hong Kong dollars ($100 million) as part of its Green Bond Programme.
Globally, tokenized ESG initiatives are gaining momentum. PowerDime, an energy finance company, operates a tokenized renewable energy trading platform on the Layer-1 Chintai blockchain, providing virtual wind and solar power purchase agreements.
Tokenization Market Could Reach $16T by 2030
A report from the Global Financial Markets Association (GFMA) and Boston Consulting Group projects that the global value of tokenized illiquid assets will reach $16 trillion by 2030.
More conservative estimates from Citigroup suggest that $4 trillion to $5 trillion worth of tokenized digital securities could be created by 2030.
Recognizing this potential, major corporations are making significant strides in the tokenization sector.
Goldman Sachs, for example, intends to launch three new tokenization products later this year, spurred by increasing client interest.
The post Sui Blockchain and Ant Digital Partner to Tokenize ESG Assets appeared first on Cryptonews.
