Greenpro Provides Details on CryptoSX Exchange and Decentralized Finance (DeFi) Businesses
Kuala Lumpur, September 8, 2020 (ACCESSWIRE) – Greenpro Capital Corp. (Nasdaq: GRNQ) today updated its shareholders about one of its core business activities.
Greenpro Capital Corp. (Nasdaq: GRNQ), headquartered in Kuala Lumpur, Malaysia (a Nevada corporation), is a business incubator and listed on Nasdaq in June 2018.
Greenpro has within its portfolio a crypto exchange called CryptoSX. CryptoSX is a Digital Assets Exchange that allows issuers to tokenize and investors to buy and sell digital assets. With Greenpro’s specialties in corporate finance advisory services, Greenpro believes it will be able to strategically develop and generate more business for CryptoSX in Asset Tokenization and Security Token Offerings (STO), especially through Greenpro’s incubation division. Other potential business relating to CryptoSX includes assisting issuers to securitize their assets, such as public company securities, real estate, art, antiques and other valuable assets.
CryptoSX is compliant with all of the applicable financial and virtual exchange policies and regulations of the Philippine government under CEZA (Cagayan Economic Zone Authority). CryptoSX was awarded a Full Principal License by CEZA in 2018. Since then, CryptoSX has been working very closely with CEZA to further develop and enhance the STO listing procedures, compliance and reporting requirements. It is one of the very few exchanges that is operating with such a relevant license in Asia. CryptoSX has successfully completed 2 STO’s and is working on a number of primary listing and secondary trading projects.
The CryptoSX Platform has been vetted by a variety of external, third-party security audit firms and penetration test consultants, and is certified per the CryptoCurrency Security Standard (CCSS). CryptoSX custodial and exchange wallet are protected against any single point of failure with multi-signature security and 3-key management.
With the empowerment of world-leading technologies, CryptoSX is building a cutting edge crypto exchange platform for STOs backed by FIAT/Crypto conversion capabilities. Greenpro intends to become significantly involved in assisting companies in STO primary listings, STO secondary trading and to develop and launch a substantial decentralized finance “DeFi” business, including crypto lending.
About DeFi, the future of finance
Decentralized finance, or DeFi, refers to financial services using smart contracts, which are automated enforceable agreements that do not need intermediaries, like a bank or lawyer, and use online blockchain technology instead.
We believe DeFi, mostly built on the ethereum blockchain network, is the next step in the revolution in disruptive financial technology that began 11 years ago with bitcoin. These networks are entirely peer-to-peer, without any company or other institution providing the platform.
Other DeFi services that can currently be utilized include:
- Borrow and lend cryptocurrencies to earn interest using platforms such as Compoundor Aave.
- Bet on the outcome of events using Augur.
- Create and exchange derivatives of real-world assets such as currencies or precious metals on Synthetix.
- Take part in a no-loss lottery on PoolTogether, where everyone gets their money back and one participant wins all the interest that has accrued in a shared pot.
- Buy cryptocurrencies known as stablecoins, which are pegged to the value of a particularly currency or commodity. For example, USDt, DAI and USDC are all pegged to the US dollar.
Greenpro CEO CK Lee said, “We believe the future of finance, business trading and security listings will include blockchain technology. We must embrace it now or be left behind.”
Other company events in September
Greenpro announced a dividend of 1 DQWS share for every 5 GRNQ shares for shareholders of record on September 30, 2020. DQWS is a fast growing biotech company that has experienced increased sales of its healthcare products during the recent pandemic. DQWS was recently priced at $8.50 per share. The Company plans to up-list to a major stock exchange in 2021.
About Greenpro Capital Corp.
Headquartered in Kuala Lumpur, Malaysia (a Nevada corporation) with strategic offices across Asia, Greenpro Capital Corp. (Nasdaq: GRNQ) is a business incubator with a diversified business portfolio comprising finance, technology, banking, CryptoSX, a licensed crypto exchange for Securitized Token Offerings “STO’s”, 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
Phone: +852-3111 7718
Contact Dennis Burns. Investor Relations.
Tel (567) 237-4132