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Greenpro Capital Corp. (GRNQ) Leading Shariah Compliant ESG Digital Asset Exchange GreenX is set to onboard the stablecoin "$ST" on its exchange by April 2025. This collaboration between GreenX and the "$ST" stablecoin issuer, PIH Limited, marks a major milestone in joint effort between the two regulated entities.
$ST is a tokenized securities which is secured by a USD Reserve Portfolio. The token is run under the Secured Security Token Program, a transparent and audited portfolio of assets held in segregated account to maintain a stable asset backing. The program is arranged by Potomac Capital Limited, a Hong Kong Securities & Futures Commission licensed corporation.
$ST ensures the security, transparency, sustainability, and reliability through the blockchain manifested and audited framework that one can be assured to redeem one’s $ST at any time without being hindered by the obstruction due to unclear guidelines, obscurity of the portfolio backing $ST, or the market’s sudden volatility which often are the factors leading to short of liquidity for redemption.
Robert Liu of Potomac Capital Limited ("Potomac Capital") said, "We seek to establish advantages over other stablecoins to be the Sustainable Token denominated in USD by incorporating the intricacies of the tokenization process and required infrastructure to maintain the integrity of the 1:1 ratio."
Greenpro Capital CEO Dr CK Lee further state, "Having $ST onboard to our exchange is a testament to the regulatory objective of both parties. We strongly believe in the utilization and adoption of blockchain technology in a regulated environment as the way forward."