Business
Greenpro Establishing Shariah Compliant ESG Digital Asset Exchange and NFT Marketplace in Labuan, Malaysia
KUALA LUMPUR, MALAYSIA / ACCESSWIRE / December 28, 2021 / Greenpro Capital Corp. (NASDAQ:GRNQ) today announced it had made a license application to Labuan
About this update from Greenpro Capital Corp.
[{"type":"text","content":"KUALA LUMPUR, MALAYSIA / ACCESSWIRE / December 28, 2021 / Greenpro Capital Corp. (NASDAQ:GRNQ) today announced it had made a license application to Labuan Financial Services Authority (\"Labuan FSA\") to the establishment of Shariah Compliant Digital Asset Exchange.The Digital Asset Exchange will offer the following services:Security Token Offering (\"STO\")NFT MarketplaceCarbon Credit ExchangeCryptocurrency ExchangeMalaysia's Labuan was first declared as an International Offshore Financial Centre and Free Trade Zone back in 1990. The set-up Labuan FSA in 1996 by the Government as a single regulator has seen the number of active companies reaching 5,200 from over 125 countries, including well-known banks such as HSBC, DBS, Sumitomo, BNP Paribas, Goldman Sachs etc.https://www.labuanfsa.gov.my/default.aspxGreenpro CEO, Dr. Lee said, \"Parallel to the rapid growth of the cryptocurrency industry is the rapid growth of cryptocurrency regulation, STO is considered to be a very efficient method of alternative financing. Due to the world's trend moving towards ESG and decarbonization, and the successful track record in our CryptoSX Digital Exchange, we are expecting a large number of international issuers to list on our Shariah Compliant ESG Digital Asset Exchange.\"About Labuan FSALabuan Financial Services Authority (\"Labuan FSA\") was established on 15 February 1996 under the Labuan Financial Services Authority Act 1996. Labuan FSA is the statutory body responsible for the development and administration of the Labuan International Business and Financial Centre (\"Labuan IBFC\").The key objectives of Labuan FSA are to:Promote and develop Labuan as an international centre for business and financial services;Develop national objectives, policies and priorities for the orderly development and administration of international business and financial services in Labuan; andAct as the central regulatory, supervisory and enforcement authority of the international business and financial services industry in Labuan.Labuan FSA licenses and regulates licensed entities operating within Labuan IBFC and to ensure all such entities remain in compliance with the Labuan laws and regulations and adhere to the international standards, which are adopted by the jurisdiction. Labuan FSA develops regulatory policies to ensure orderly conduct of business and f...