30s Summary

Chinese firm Ant Digital is partnering with Sui blockchain to digitize real-world assets, beginning with notes from an undisclosed Fortune China Top 500 solar materials company. The project is part of the broader regenerative finance trend and efforts will be focused on environmentally friendly, societal, and good governance assets. In conjunction with this, Ant Digital has created a brand called ZAN, which offers digitized real-world asset management tools. Sui blockchain, valued at $2 billion, previously partnered with Backpack Exchange and Mysten Labs, indicating a growing adoption of blockchain-focused solutions in China.

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Ant Digital from China is linking up with Sui blockchain to do something really cool – they’re going to put real-world assets on the blockchain, focusing on stuff that’s good for the environment, social scene, and good governance.

First up on their to-do list? They’re taking “notes” from a Chinese solar material company that’s on the Fortune China Top 500 and putting them on the market. Although they didn’t tell us the name of the manufacturer, we know this is big!

Cobe Zhang, who’s in charge of Web3 product at Ant Digital, said they’re hoping to use their tech chops to help more projects like this, especially ones in the new energy sector.

Now, you’re probably wondering, what’s “Ant Digital”? They’re the tech guys behind the giant payment network Alipay. Recently, Ant Digital created a brand called ZAN that gives you a package of easy-to-use tools, all powered by AntChain Open Labs TrustBase. This tech is all about helping you issue and manage your digitized real-world assets. They’ve also got some solutions to help you verify your customers and prevent money laundering.

In August, ZAN linked up with Mysten Labs, an original contributor to Sui’s blockchain. They work together as a Remote Procedure Call (RPC) node operator to allow users to communicate with servers on different networks.

In December, Sui announced they’d join up with Backpack Exchange, which means they can use the non-custodial Backpack Wallet. The Sui network is already valued at around $2 billion.

Turns out, these green and sustainable projects are part of a broader trend called regenerative finance, or ReFi. China is keen on green finance – the People’s Bank of China and the Monetary Authority of Singapore even have a special taskforce for it.

Not just that, the Hong Kong government has also issued around $100 million worth of green bonds that have been tokenized as part of its Green Bond Programme. Plus, energy finance company PowerDime has a platform for trading tokenized renewable energy on the Chintai blockchain. This includes fun stuff like virtual wind and solar power purchase agreements.

So, put your sunglasses on, because the future of blockchain and green finance is looking bright!