Sui Partners with Ant Digital to Tokenize ESG Assets, Starting with Solar Industry

Sui, a Layer-1 blockchain, has formed a partnership with Ant Digital, the technology branch of China's Ant Group, to focus on tokenizing real-world assets (RWAs) with an emphasis on the environmental, social, and governance (ESG) sector.

Their collaboration will initially target tokenizing assets from a Chinese solar material manufacturer, listed among the top 500 companies in China by Fortune. The identity of the manufacturer has not been disclosed.

Ant Digital’s head of Web3 products, Cobe Zhang, expressed the company’s commitment to offering advanced technological services for projects in the new energy sector. Ant Digital, which operates independently as of April 2024, also works through its brand ZAN, which offers plug-and-play solutions for tokenizing RWAs.

ZAN utilizes the AntChain Open Labs TrustBase technical stack and offers services such as Know Your Customer (KYC) and Anti-Money Laundering (AML) solutions.

The collaboration between Sui and ZAN began in August, when ZAN became a Remote Procedure Call (RPC) node operator for Sui, enabling cross-network communication. In December, Sui expanded its partnerships, announcing an integration with Backpack Exchange and access to the non-custodial Backpack Wallet. The Sui blockchain has seen significant growth, recently reaching close to $2 billion in total value locked, further fueled by support from firms like VanEck and Grayscale.