Sui announced today that it was partnering with Ant Digital Technologies and its subsidiary Zan to tokenize environmental, social, and government (ESG) RWAs.
However, public communications from Sui have left several important questions unanswered, such as who initially holds these ESG assets and what its partners’ roles are in the enterprise.
Sui And Ant Group Tokenize ESG RWAs
Layer-1 blockchain protocol Sui first announced this ESG partnership via social media. Essentially, the group will use tokenization to substantially expand investor access to these ESG RWAs.
“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,” claimed Jameel Khalfan, Head of Ecosystem Development at Sui Foundation.
Environmental concerns play a large role in the crypto industry, especially because they are used to justify persistent attacks on the mining sector. However, Sui’s decision to use tokenized RWAs to promote ESG assets is less common.
Still, the firm has recently engaged in several novel partnerships, boosting blockchain development and Bitcoin staking.
Sui, for its part, has been performing exceptionally well lately. In late November, it survived a two-hour outage with minimal declines in token value. The SUI token hit an all-time high yesterday, and it’s showing continued momentum to reach even higher.
However, Sui’s public statements on this project are still quite vague. The press release claims that assets “will be held by an award-winning technology driver and international manufacturer of solar materials.”
However, it gives very few other details, only calling the holder “a world-leading new energy group” on Fortune China’s Top 500 List. Ant Digital and its subsidiary Zan have some role in helping Sui tokenize ESG RWAs, but their exact duties are very unclear. Hopefully, more details will come to light as the project progresses.
Meanwhile, Sui recently announced another major partnership with investment firm Franklin Templeton. This partnership will support the network’s developer ecosystem and help the infrastructure achieve better scalability.
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