GreenX Aims to Kickstart Tokenization of Carbon Credit in Cambodia
Greenpro Capital Corp. (NASDAQ: GRNQ) announced that its subsidiary, GreenX, visited Cambodia to initiate collaborations in Environmental, Social, and Governance (ESG) and climate change policies. The trip, invited by H.E. Preap Kol, Minister attached to the Cambodian Prime Minister, resulted in GreenX signing MoUs with KS Green, focusing on developing a Security Token Offering (STO) and Real World Assets (RWA) Project. Key areas of collaboration include project financing, educational programs, resource sharing, and industry standards. GreenX identified a 30,000-hectare pilot site for carbon credit tokenization and aims to explore partnerships with the Digital University of Cambodia to foster talents in fintech and digitalization.
- GreenX signed MoUs with KS Green, focusing on STO and RWA projects, indicating future collaborative growth.
- Identification of a 30,000-hectare pilot location for carbon credit tokenization could lead to significant environmental and financial benefits.
- Project financing accessibility support can help in scaling the initiatives efficiently.
- GreenX's collaboration with Digital University of Cambodia aims to nurture fintech and digitalization talents, which can drive future innovations.
- The planned development of Green ESG Industrial Park, Green Port, and Green Smart Cities aligns with sustainable growth strategies.
- Lack of specific financial figures or timelines could leave investors uncertain about the impact and return on investment.
- The success of these initiatives is contingent on regulatory approvals and market acceptance, posing potential risks.
- The project's reliance on future infrastructure development like the Funan Techo Canal and Techo International Airport could delay the expected benefits.
KUALA LUMPUR, MALAYSIA / ACCESSWIRE / May 17, 2024 / Greenpro Capital Corp. (NASDAQ:GRNQ) GreenX made a working visit to Cambodia to establish action points for Environmental, Social and Governance ("ESG") and Climate Change related policies. The visit was under the invitation of His Excellency Preap Kol, Minister attached to the Prime Minister of Cambodia, to address and establish specific fields such as Carbon Credit Alliance, Climate Action Alliance, Security Token Offering ("STO") Alliance etc.
During the Global Climate Action Forum 2024 ("GCAF 2024") held in Phnom Penh, GreenX signed Memorandum of Understandings ("MoU") with W-Foundation's member company, KS Green, with scope of collaboration focusing on five key areas as below:
(a) | Develop STO & RWA ("Real World Assets") Project and cooperation for both parties benefit in a common goal. | |
(b) | Support on Project Financing Accessibilities | |
(c) | Educational Program, Training, and Study Exchange | |
(d) | Resource Sharing and Capacity Building On Technical and Consultation | |
(e) | Industry Standards and Best Practices for technology in collaboration |
News coverage of the event can be found at https://www.khmertimeskh.com/501489781/cambodia-highlights-climate-change-efforts-at-global-forum/
"We have identified a pilot location covering more than 30,000 hectares of palm oil and rubber estates as the starting point for our carbon credit tokenization project. We see potential to further develop this area with sustainable features such as Green ESG Industrial Park, Green Port and Green Smart Cities," said Dr. CK Lee, CEO of GreenPro Capital.
GreenX also made a courtesy visit to Digital University of Cambodia ("DUC"), an institution approved by the Government of Cambodia to drive digitalization among the youth population. More than 1,400 students in DUC are enrolled in programming, IT, and digital research syllabuses that will improve and raise the knowledge and skill level of young Cambodians. GreenX is keen to explore strategic collaboration with DUC to nurture talents in the fintech and digitalization space. More information can be found at https://www.facebook.com/DUCambodia
"Cambodia represents one of the largest untapped market in the Southeast Asia region for potential economic growth and development. This country is blessed to have a new Government that is visionary and receptive towards Digitalization and New Energy, at the same time focus on progressing the country in alignment with the net zero emission target by 2050. We believe the upcoming new Funan Techo Canal and Techo International Airport will spur further opportunities across all industries," said H.E Preap Kol, Minister attached to the Prime Minister of Cambodia.
About KS Green
KS Green is part of KC Financial Group, a blockchain technology and platform company that connects essential financial networks and provide an ecosystem to establish successful digital finance. The group supply blockchain technology and platforms so all assets and property rights can be made into digital tokens. Digital Tokenization of assets provides new opportunities for asset value because they can efficiently prove and trade assets.
KC Financial Group is a member company of W-Foundation, a non-profit organization founded in 2012, committed to leading and enabling a broad-based public support for nature conservation, climate change mitigation and immediate relief for refugees impacted by climate change and natural disasters. W-Foundation partners with like-minded individuals, corporations and organizations around the world to build and sustain a broad-based movement to making a difference for our shared future. W-Foundation is the Official Partner of United Nations Framework Convention on Climate Change ("UNFCCC"). More information can be found at https://www.gcrfund.org/en/
About Green-X Corp
Green-X™ is a wholly-owned subsidiary of Greenpro Capital Corp (NASDAQ:GRNQ) and operate one of the world's leading Shariah-Compliant ESG Digital Asset Exchange licensed under Labuan Financial Services Authority (LFSA), Malaysia. The Green-X exchange can be found at https://www.green-x.io/
About Greenpro Capital Corp
Headquartered in Kuala Lumpur and a Nevada corporation, Greenpro Capital Corp. (NASDAQ:GRNQ), is a business incubator with strategic offices across Asia. With a diversified business portfolio comprising of finance, technology, banking, and Green-X for STOs, health and wellness as well as 30 years of experience in various industries, Greenpro has been assisting and supporting businesses and High-Net-Worth-Individuals to capitalize and securitize their value on a global scale. This is done through the provision of cross-border business solutions, spinoffs on major stock exchanges and accounting outsourcing services to small and medium-size businesses located in Asia. The comprehensive range of cross-border business services include, but are not limited to, trust and wealth management, listing advisory services, transaction services, cross-border business solutions, record management services, accounting outsourcing services and tax advisory services. Greenpro also operates venture capital businesses, including business development for start-ups and high growth companies.
For further information regarding the company, please visit http://www.greenprocapital.com.
Forward-Looking Statements
This press release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company's financial position and business strategy. The words or phrases "plans," "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "think," "considers" or similar expressions are intended to identify "forward-looking statements." These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of local, regional, and global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
GRNQ has 7,575,813 shares issued and outstanding with a float of 4,089,641 shares
Gilbert Loke, CFO, Director
Greenpro Capital Corp.
Email: ir.hk@greenprocapital.com
Phone: +852-3111 7718
Contact Dennis Burns. Investor Relations.
Tel (567) 237-4132
dburns@nvestrain.com
Phone: +603-2201 3192
mycorp@greenprocapital.com
SOURCE: Greenpro Capital Corp.
View the original press release on accesswire.com
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