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KUALA LUMPUR - Greenpro Capital Corp. (NASDAQ:GRNQ), a micro-cap company with a market value of $11.6 million, announced Friday the launch of Green Token (XGT), a real-world asset token focused on funding green technology and ESG companies through its GreenX digital asset exchange. The stock has shown remarkable momentum, gaining over 31% in the past week and 50% over the last six months, according to InvestingPro data.
The token will have a maximum supply of 168 million, with an initial offering of 2.5 million tokens representing 1.49% of the total supply. The private sale price is set at $0.20 USDT per token, according to the company’s press release. While the company maintains a relatively healthy current ratio of 1.53, InvestingPro analysis indicates the company is not currently profitable, with negative earnings of $0.14 per share in the last twelve months.
XGT will be backed by equities and assets with sustainable features as defined by United Nations standards. Funds raised will be invested in projects including sustainable farming and renewable energy, with carbon credits from these ventures being pledged back to increase the token’s underlying asset base.
A Governance Council consisting of professionals will oversee XGT to evaluate and monitor approved projects.
The first project under XGT will be Dorod Group Berhad, an agricultural company focused on aeroponic farming technology. The company claims its Aeroponics Arrow Towers vertical farming system produces faster plant growth and higher crop yields while using significantly less water and energy compared to conventional farming methods.
"We are proud to have Dr. Hamed on board to be the captain of our XGT," said Greenpro Capital CEO Dr. CK Lee. "Our goal is to let Green Token become an ESG Token, at the same time getting this XGT to be recognized as a bankable asset for both retail and institutional investors." For investors interested in comprehensive ESG investment analysis and more detailed financial metrics, InvestingPro offers advanced tools and over 10 additional exclusive insights about GRNQ’s performance and potential.
XGT will be available on the GreenX platform, which Greenpro describes as a Shariah-compliant ESG digital asset exchange licensed under Malaysia’s Labuan Financial Services Authority.
In other recent news, Greenpro Capital Corp. has finalized a private placement agreement with accredited investors, resulting in the sale of 500,000 shares at $1.00 each, yielding $500,000 in gross proceeds. The funds are intended for the company’s operating capital, and the transaction was completed without a public offering. Additionally, Greenpro Capital has received a notification from NASDAQ regarding non-compliance with the minimum bid price requirement, as their stock did not maintain a $1.00 per share price over 30 consecutive business days. The company has until October 8, 2025, to rectify this issue, with potential for an additional 180-day extension if needed.
In another development, Greenpro Capital plans to list a new stablecoin, "$ST," on its Shariah-compliant ESG digital asset exchange, GreenX, by April 2025. The $ST stablecoin is backed by a USD Reserve Portfolio and operates under the Secured Security Token Program managed by Potomac Capital Limited. This move aligns with Greenpro’s aim to integrate blockchain technology in regulated environments. These recent developments highlight Greenpro Capital’s ongoing strategic efforts in both financial and digital asset sectors.
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