Sway today announced that it is partnering with Ant Digital Technologies and its subsidiary Zan to tokenize real environmental, social, and governance (ESG) assets.
However, Sui's public communications left several important questions unanswered, such as who initially holds these ESG assets and what the roles of its partners in the project are.
Sway and Ant Group tokenize ESG risk assets
Layer-1 blockchain protocol Sui first announced this ESG partnership via social media. Essentially, the group will use tokenization to dramatically expand investor access to these real-world ESG assets.
“Tokenizing the ESG market is an incredible step forward for real assets. Through this partnership, investors will have access to a whole new market, and it’s all happening on the most convenient platform for it, SWI,” said Jameel Khalfan, Head of Ecosystem Development at SWI.
Environmental concerns play a big role in the cryptocurrency industry, especially as they are used to justify ongoing attacks on the mining sector. However, Sui’s decision to use tokenized real assets to promote environmental, social, and governance (ESG) issues is less common.
However, the company has recently engaged in several new partnerships, promoting blockchain development and offering Bitcoin staking.
For its part, SUI has been performing exceptionally well lately. In late November, it survived a two-hour blackout with minor dips in token value. SUI hit an all-time high yesterday and is showing continued momentum to reach higher levels.
However, Sui’s public statements about the project remain somewhat vague. The press release claims that the assets “will be held by an award-winning technology driver and international manufacturer of solar materials.”
However, he offers very few other details, describing the carrier only as a “world-leading new energy group” on the Fortune China Top 500 list. Intel Digital and its subsidiary Zhan have a role in helping Sui encode ESG RWAs, but their exact duties are very unclear. Hopefully, more details will emerge as the project progresses.
Sway recently announced another major partnership with investment firm Franklin Templeton. This partnership will support the network’s developer ecosystem and help the infrastructure achieve greater scalability.
