Why did Sui partner with Ant Digital to model ESG RWAs?

Sui announced that it has partnered with Ant Digital Technologies and its subsidiary Zine to model environmental, social and governance (ESG) RWAs.

However, several important questions remain unanswered from Sui's public communications, such as who owns these ESG assets and what the partners' roles are in the organization.

Sui and Ant Group's ESG RWAs token

Layer-1 blockchain protocol Sui first announced this ESG partnership on social media. Essentially, the team uses tokens to significantly expand investors' access to these ESG RWAs.

“The introduction of the ESG market is an exciting step forward for real-world assets. With this partnership, investors will have access to an entirely new market, and all this will happen on the right platform,” said Jamiel Khalfan, Head of Ecosystem Development at Sui Foundation.

Environmental issues play an important role in the crypto industry, especially as they are used to justify a series of attacks on the mining sector. However, Sue's decision to use tokenized RWAs to promote ESG assets is not uncommon.

Still, the firm has recently engaged in a number of novel partnerships that will advance blockchain development and Bitcoin staking.

Sue, on the other hand, has been doing something special lately. In late November, it survived a two-hour blackout with the token's price dropping slightly. The SUI token hit an all-time high yesterday, and is showing continued momentum to move higher.

However, his public statements on this project are still vague. The press release said the assets will be “held by an award-winning technology driver and global manufacturer of solar materials.”

However, Fortune China's Top 500 list calls the incumbent “a new energy group that leads the world” and gives very few details. Ant Digital and its subsidiary Zan Sui have some role in helping ESG RWAs be seen, but their exact role is not very clear. Hopefully more details will emerge as the project progresses.

Meanwhile, Sui recently announced another major partnership with investment firm Franklin Templeton. This partnership supports the network's developer ecosystem and helps the infrastructure scale better.