GreenX Making Significant Progress on the Establishment of Islamic Digital Asset Exchange in Indonesia
GreenX, led by CEO Philip Tam, is making significant progress in establishing an Islamic Digital Asset Exchange in Indonesia. Following a Letter of Intent signing with Nahdlatul Ulama for Shariah Compliant Real World Asset (RWA) Tokenization, Tam visited key Islamic institutions in East Java. Accompanied by Sheikh Khalifa Aljarizi Alshehhi, Co-Founder of Dubai Blockchain Center, and KH Abdul Hakim Mahfudz from PWNU East Java, the team discussed blockchain technology adoption in compliance with Islamic principles.
The visit included exchanges on crypto usage in UAE and other countries, emphasizing GreenX's role as the world's first Shariah Compliant Exchange. GreenX aims to share knowledge gained from Malaysia's ISRA with Indonesian partners. The company's progress in Indonesia, the world's largest Muslim country by population, is seen as a significant milestone in the development of Shariah Compliant RWA platforms.
GreenX, guidata dal CEO Philip Tam, sta facendo significativi progressi nell'istituire un Exchange di Asset Digitali Islamici in Indonesia. Dopo aver firmato una Lettera di Intenti con Nahdlatul Ulama per la Tokenizzazione di Asset Reali Conformi alla Sharia, Tam ha visitato importanti istituzioni islamiche in Giava Orientale. Accompagnato da Sheikh Khalifa Aljarizi Alshehhi, Co-Fondatore del Dubai Blockchain Center, e KH Abdul Hakim Mahfudz della PWNU Giava Orientale, il team ha discusso l'adozione della tecnologia blockchain in conformità ai principi islamici.
La visita ha incluso scambi sull'uso delle criptovalute negli Emirati Arabi Uniti e in altri paesi, enfatizzando il ruolo di GreenX come primo Exchange al mondo conforme alla Sharia. GreenX mira a condividere le conoscenze acquisite dall'ISRA della Malesia con i partner indonesiani. I progressi dell'azienda in Indonesia, il paese musulmano più popoloso al mondo, sono considerati un traguardo significativo nello Sviluppo di piattaforme RWA conformi alla Sharia.
GreenX, liderado por el CEO Philip Tam, está haciendo progresos significativos en el establecimiento de una Bolsa de Activos Digitales Islámicos en Indonesia. Tras la firma de una Carta de Intención con Nahdlatul Ulama para la Tokenización de Activos Reales Conformes a la Sharia, Tam visitó instituciones islámicas clave en Java Oriental. Acompañado por Sheikh Khalifa Aljarizi Alshehhi, cofundador del Dubai Blockchain Center, y KH Abdul Hakim Mahfudz de PWNU Java Oriental, el equipo discutió la adopción de la tecnología blockchain en cumplimiento de los principios islámicos.
La visita incluyó intercambios sobre el uso de criptomonedas en los EAU y otros países, enfatizando el papel de GreenX como la primera Bolsa Conforme a la Sharia en el mundo. GreenX tiene como objetivo compartir el conocimiento adquirido de ISRA en Malasia con socios indonesios. El progreso de la empresa en Indonesia, el país musulmán más poblado del mundo, se considera un hito significativo en el desarrollo de plataformas RWA conformes a la Sharia.
GreenX는 CEO Philip Tam의 지도하에 상당한 진전을 이루고 있으며, 인도네시아의 이슬람 디지털 자산 거래소를 설립하고 있습니다. Shariah 준수 실물 자산(RWA) 토큰화를 위해 Nahdlatul Ulama와 의향서(LOI)를 체결한 후, Tam은 동부 자바의 주요 이슬람 기관을 방문했습니다. 두바이 블록체인 센터의 공동 창립자 Sheikh Khalifa Aljarizi Alshehhi와 PWNU 동부 자바의 KH Abdul Hakim Mahfudz와 함께 팀은 이슬람 원칙에 부합하는 블록체인 기술 채택에 대해 논의했습니다.
이번 방문에서는 UAE 및 기타 국가에서의 암호화폐 사용에 대한 교류가 포함되었으며, GreenX가 세계 최초의 Shariah 준수 거래소로서의 역할을 강조했습니다. GreenX는 말레이시아의 ISRA에서 얻은 지식을 인도네시아 파트너와 공유할 계획입니다. 세계에서 가장 많은 무슬림 인구를 가진 인도네시아에서의 회사의 발전은 Shariah 준수 RWA 플랫폼 개발에서 중요한 이정표로 보고되고 있습니다.
GreenX, dirigé par le PDG Philip Tam, fait des progrès significatifs dans l'établissement d'une échange d'actifs numériques islamiques en Indonésie. Suite à la signature d'une lettre d'intention avec Nahdlatul Ulama pour la tokenisation d'actifs réels conformes à la charia, Tam a visité des institutions islamiques clés à Java Est. Accompagné de Sheikh Khalifa Aljarizi Alshehhi, co-fondateur du Dubai Blockchain Center, et de KH Abdul Hakim Mahfudz de PWNU Java Est, l'équipe a discuté de l'adoption de la technologie blockchain en conformité avec les principes islamiques.
La visite a inclus des échanges sur l'utilisation des cryptomonnaies aux Émirats Arabes Unis et dans d'autres pays, soulignant le rôle de GreenX en tant que première bourse conforme à la charia au monde. GreenX vise à partager les connaissances acquises auprès de l'ISRA de Malaisie avec des partenaires indonésiens. Les progrès de l'entreprise en Indonésie, le pays musulman le plus peuplé au monde, sont considérés comme un jalon significatif dans le développement de plateformes RWA conformes à la charia.
GreenX, unter der Leitung von CEO Philip Tam, macht signifikante Fortschritte beim Aufbau einer islamischen Digital-Asset-Börse in Indonesien. Nach der Unterzeichnung eines Absichtserklärungs mit Nahdlatul Ulama zur Tokenisierung von Sharia-konformen Real World Assets (RWA) besuchte Tam wichtige islamische Einrichtungen in Ostjava. Begleitet von Sheikh Khalifa Aljarizi Alshehhi, Mitbegründer des Dubai Blockchain Centers, und KH Abdul Hakim Mahfudz von PWNU Ostjava, diskutierte das Team über die Adoption von Blockchain-Technologie im Einklang mit islamischen Prinzipien.
Der Besuch beinhaltete den Austausch über die Nutzung von Krypto in den VAE und anderen Ländern und betonte die Rolle von GreenX als weltweit erste Sharia-konforme Börse. GreenX beabsichtigt, das aus Malaysias ISRA gewonnene Wissen mit indonesischen Partnern zu teilen. Der Fortschritt des Unternehmens in Indonesien, dem bevölkerungsreichsten muslimischen Land der Welt, wird als bedeutender Meilenstein in der Entwicklung von Sharia-konformen RWA-Plattformen angesehen.
- GreenX signed LOI for Shariah Compliant Real World Asset (RWA) Tokenization with Nahdlatul Ulama
- GreenX is making progress in establishing an Islamic Digital Asset Exchange in Indonesia
- GreenX is recognized as the world's first Shariah Compliant Exchange
- GreenX obtained Shariah compliance in Malaysia from ISRA for their RWA projects
- None.
Insights
The progress of GreenX in establishing an Islamic Digital Asset Exchange in Indonesia marks a significant development in the intersection of blockchain technology and Islamic finance. This move could potentially revolutionize the way Islamic financial instruments are traded and managed in the world's largest Muslim-majority country.
The collaboration with Nahdlatul Ulama, Indonesia's largest Islamic organization, lends substantial credibility and religious authority to this initiative. This partnership is important for ensuring Shariah compliance, which is a fundamental requirement for any financial product or service in the Islamic world.
The involvement of Sheikh Khalifa Aljarizi Alshehhi, an advisor to the UAE Ministry of Economy, brings valuable insights from a country that has been at the forefront of integrating blockchain and cryptocurrency within Islamic finance. His statement about the acceptance of Zakat payments in cryptocurrency in the UAE indicates a growing openness to digital assets in Islamic financial practices.
However, it's important to note that while this progress is promising, the actual implementation and adoption of a Shariah-compliant digital asset exchange in Indonesia may face regulatory hurdles and require extensive education of the public and religious authorities. The success of this initiative could pave the way for similar developments in other Muslim-majority countries, potentially opening up a vast new market for blockchain-based financial products.
GreenX's progress in Indonesia represents a significant step towards the mainstream adoption of blockchain technology in the Islamic financial sector. The company's focus on Real World Asset (RWA) tokenization is particularly noteworthy, as it addresses one of the key criticisms of cryptocurrencies - their lack of intrinsic value.
By tokenizing real-world assets in a Shariah-compliant manner, GreenX is creating a bridge between traditional Islamic finance and the digital asset world. This could potentially unlock significant liquidity in previously illiquid assets, while adhering to Islamic financial principles.
The mention of GreenX's status as the world's first Shariah-compliant exchange, coupled with their collaboration with Malaysia's ISRA, suggests a strong foundation in both technological innovation and Islamic financial principles. This dual expertise could give them a competitive edge in the rapidly evolving landscape of digital Islamic finance.
However, the success of this venture will largely depend on regulatory clarity and acceptance by both religious authorities and the general public in Indonesia. The educational initiatives mentioned, such as the visit to the Tebu Ireng Islamic Boarding School, will be important in building understanding and trust in these new financial instruments.
If successful, this model could be replicated in other Islamic countries, potentially creating a new, Shariah-compliant segment of the global digital asset market.
GreenX making significant progress on the establishment of Islamic Digital Asset Exchange in Indonesia
KUALA LUMPUR, MALAYSIA / ACCESSWIRE / July 30, 2024 / Following the signing of LOI for Shariah Compliant Real World Asset (RWA) Tokenization with Nahdlatul Ulama last month, GreenX CEO Philip Tam led further visits to PWNU East Java in Jombang and East Java Ulama Council (MUI) Office. The trip was accompanied by Sheikh Khalifa Aljarizi Alshehhi (Sheikh Khalifa), Co-Founder of Dubai Blockchain Center and Advisor to the UAE Ministry of Economy, and KH Abdul Hakim Mahfudz (Gus Kikin), Acting Chairman of PWNU East Java and Great-grandson of NU Founder.
This follow up visit was aimed at fostering close working relationship and exchange views on the global adoption and trend of Blockchain technology and how it can deploy and implemented in compliance with Islamic principles.
During the visit at Jombang's Tebu Ireng Islamic Boarding School, one of the largest Islamic Boarding Schools in Indonesia, Sheikh Khalifa explained, "the use of blockchain solutions and crypto payment is now very common in UAE and the Middle East, even Zakat payments have been accepted in the form of Crypto. Not only as a means of payment and settlement, Cryptography is also a key data security component of blockchain technology."
On the visit to East Java MUI, Philip Tam and Sheikh Khalifa also shared and exchange experiences/use cases about how Crypto is used in the UAE and other countries, including the first RWA tokenisation exhibition by GreenX held in Seoul in June 2024 which was attended by over 300 blockchain/crypto enthusiast and leading technology companies.
Philip Tam further explained, "whilst GreenX is the world first Shariah Compliant Exchange, our mission is to share the knowledge we have learned from Malaysia ISRA (International Shariah Research Academy for International Islamic Finance) and regulators, with our Indonesia partners and Islamic community. Tokenisation of RWA is an important asset class of Islamic Finance as Sheikh Khalifa has demonstrated so vividly in UAE. We need to equip our upcoming Islamic generations with up-to-date knowledge on technology and wealth management tools and alternatives."
Sheikh Khalifa explained that GreenX has accomplished a significant milestone in obtaining Shariah compliance in Malaysia from ISRA and other Shariah scholars for their RWA projects and he very much looked forward to the development of RWA Shariah Compliant platform in the Islamic and other jurisdiction under GreenX.
This visit was closed with a special interview held by TV9 Islamic TV in Surabaya, and informal dialogue with crypto/blockchain enthusiasts in Surabaya.
Dr. CK Lee, Chief Executive Officer of Greenpro Capital Corp, stated, "we are proud that GreenX has made significant stride in the world's largest Muslim country by population. We strongly believe that STO/RWA implementation on ESG Green projects will be widely adopted in ASEAN countries in the near future."
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About Nahdlatul Ulama
Nahdlatul Ulama (NU) can be classified as the largest Islamic organization worldwide, with around 121 million members. It has a long and proud history of promoting peace, tolerance, and social justice and has been a strong advocate for a moderate vision of Islam. In addition, the organization has been a leader in promoting inter-religious dialogue and has played an essential role in building bridges between different religious communities in Indonesia.
More information can be found at www.nu.or.id
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
Phone: +603-2201 3192
SOURCE: Greenpro Capital Corp.
View the original press release on accesswire.com
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