KUALA LUMPUR / ACCESSWIRE / August 10, 2021 / Greenpro Capital Corp. (NASDAQ:GRNQ). CEO Dr. CK Lee has revealed plans of making Digital Asset Exchange platform CryptoSX be the leading STO Exchange by the end of 2021. In an exclusive interview with 9Shares, a leading financial news and media platform, Dr. Lee indicated that CryptoSX is one of the key component and catalyst that will help the company achieve its digital finance transformation journey.
Founded by two professional Accountants from PWC (PricewaterhouseCoopers) and KPMG in 2018, CryptoSX is the flagship of GreenPro's New Digital Finance Ecosystem. It is one of the top Digital Asset Exchange or Security Tokens Exchange in Asia and targets to be amongst the top in listed STO globally by the end of this year. They obtained a Full Principal License for cryptocurrency and STO exchange from the Philippines Government under CEZA (Cagayan Economic Zone Authority in 2019). GreenPro will greatly benefit from CryptoSX's practical experience in the development and building of licensed security token eco-system. Under the new arrangement, CryptoSX and GreenPro will synergize to create a revolutionary digital asset market.
"Combining CryptoSX's strong background securities token offering and digital asset exchange operation, and GreenPro's deep understanding in the financial market, together I believe this great synergy will elevate the development of Shariah Compliant Digital Finance & Economic Zone in Brunei and East ASEAN Growth Area to serve over 1.9 billion Muslims globally.", says the CEO.
CryptoSX will be the equivalent of Coinbase in the Security Token Asset Exchange space. While Coinbase focuses on the trading of mainstream cryptocurrencies like BTC, ETH, BAT, and other 50+ virtual assets, CryptoSX focus on the regulated listing and secondary trading of security tokens. Coinbase has more than 56M users and $200B+ assets but it does not have Security Tokens. STO / tokenized IPO is a type of public offering in which tokenized digital securities, known as security tokens, are sold in cryptocurrency exchanges, or security token exchanges. Tokens can be used to trade real financial assets such as equities and fixed income, and use a blockchain virtual ledger system to store and validate token transactions.
CryptoSX's STO platform will help GreenPro in providing alternative digital finance to different incubated projects. The CEO indicated that this new mode of financing start-ups is more efficient.
"Security Token Offerings (STO) is considered to be a very efficient method of financing for a startup. Traditional fundraising methods are becoming increasingly complex to access, and after seeing the potential of Initial Coin Offering (ICO), many businesses have started to look at blockchain technology for raising funds." he adds, "As a result, security tokens have become a possible investment vehicle that allows businesses to reverse the financial pyramid and democratize the capital markets. CryptoSX's STO platform can greatly help GreenPro to provide a stable and reliable exit from its incubated projects."
The CEO also revealed that CryptoSX chose CEZA in the Philippines to be regulatory jurisdiction in 2018 because it has a robust Digital Asset Token Offering legal framework that is supported by the Philippines law. CEZA has the vision to the crypto valley for Asia from day 1 of its journey to develop cryptocurrency and financial technology as an industry.
CryptoSX is projected to bring great value to GreenPro. The market capitalization of NYSE is $68 Billion and NASDAQ is $30 Billion while the Hong Kong Stock Exchange is $84 Billion. The CEO projected that CryptoSX will be right behind them over the coming decade. With their 18% equity ownership in CryptoSX's holding company First Bullion Holdings Inc., the company is optimistic that the investment will bring tremendous value to GreenPro.
GreenPro intends to lead the industry towards a New Digital Finance Era by building an inclusive, equal, and sustainable financial services environment for everyone. In the upcoming year, they aim to achieve Accounting Intelligence, Capital Intelligence, Compliance Intelligence, Satellite Internet Connectivity, and Digital Banking Intelligence.
About First Bullion Holdings Inc,
Empowered by world-leading technologies, First Bullion, trading as "CryptoSX" is building a cutting-edge crypto exchange platform for STO backed by Fiat/Crypto conversion capabilities. The exchange is the preferred digital platform for companies wishing to tokenize their assets, issue, and trade security tokens. CryptoSX is compliant with all applicable financial and virtual exchange policies and regulation of the Philippine government under CEZA (Cagayan Economic Zone Authority). The exchange platform was awarded a Full Principal License by CEZA in 2018. Since then, CryptoSX have been working very closely with CEZA to further develop and enhance STO listing procedures, as well as compliance and reporting requirements. For further information regarding the Company, please visit https://www.firstbullionholdings.com/
About Greenpro Capital Corp.
Headquartered in Kuala Lumpur, Greenpro Capital Corp. (Nasdaq: GRNQ), a Nevada corporation, with strategic offices across Asia, is a business incubator with a diversified business portfolio comprising finance, technology, banking, CryptoSx for STOs, health and wellness and fine art. With 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 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. We also operate venture capital businesses, including business development for start-ups and high growth companies, covering finance, technology, FinTech, and health and wellness. For further information regarding the Company, please visit http://www.greenprocapital.com.
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.
Gilbert Loke, CFO, Director
Greenpro Capital Corp.
Email: [email protected]
Phone: +852-3111 7718
Contact Dennis Burns. Investor Relations.
Tel (567) 237-4132
SOURCE: Greenpro Capital Corp.