GreenX Approves Listing of KS Digital STO, Pioneering Blockchain Security with Precious Gemstone Resilience
KUALA LUMPUR, MALAYSIA / ACCESSWIRE / September 26, 2024 / Greenpro Capital Corp. (NASDAQ:GRNQ) Leading Shariah Compliant ESG Digital Asset Exchange GreenX has approved the listing of KS Digital, a pioneering company in the field of sapphire gemstones. This milestone will see the "KSGEMS" Token, 100% backed by investment-grade precious gemstones, be listed on GreenX.
According to report by GEMFocus, the scale of the change in value of colored gemstones that occurred in 2020-2021 compared to 10 years ago is unprecedented, especially for high-value rubies, sapphires and emeralds. Gemfields reported the latest auction delivered an all-time high of US$ 88.4 million for Montepuez Ruby Mining (MRM) Limitada's ruby auctions. The prices at this most important ruby auction had exceeded the previous Gemfields ruby auction by 35%-50% in less than a 6-month period.
Director of KS Digital, Dato' Ch'ng stated, "Sapphire gemstones are one of the world's oldest tangible assets and we are proud to turn this asset class into a modern investment instrument by utilizing blockchain technology, ensuring efficient, transparent and reliable form of portfolio diversification."
KS Digital's portfolio includes 28 high quality gemstones of sapphires, rubies, alexandrites and emeralds totalling 498.04 carats, with valuation estimated at US$24.37 million. The Company is offering a 21.28% discount specifically for STO investors, bringing the net value down to US$19.18 million.
Dato' Ch'ng further added, "We take security, compliance and authentication seriously in this line of business. We ensured that all the gemstones are securely managed and safeguarded, so investors will have a peace of mind on their investments."
Each gemstone are multi-certified from renowned gemological laboratories, including Gem Research Swisslab (GRS), Global Gemological, and Lotus Gemology. Each gemstone is meticulously analyzed and certified, ensuring authenticity, quality, and beauty. These certifications provide comprehensive reports that serve as identity cards for the gemstones, adding an additional layer of assurance for all Tokenholders.
GreenX CEO, Philip Tam said, "We welcome KSGEMS to our list of tokens in the series of fine arts and collectibles, which is increasingly becoming an alternative asset class for store of value. We have a series of STO in the similar asset class in pipeline that we can't wait to get it listed before the year end."
The Company will issue 19,185,000 Securities Tokens, with each token being priced at US$ 1.00. The KSGEMS Tokenholders will benefit from a potential appreciation of the gemstones and are entitled to regular dividend/bonus distributions. Throughout the term of the STO, private auctions shall be held half yearly, if market conditions are optimistic, to sell the gemstones to targeted investors. The net proceeds from these auctions will be distributed as dividends (or bonuses) to all the KSGEMS Tokenholders.
Tokio Marine is the gemstone insurance coverage provider while Masryef Advisory act as the Shariah Advisor for this listing.
About KS Digital
KS Digital is a Singapore entity formed exclusively to create KSGEMS, serves as the Issuer. Our mission is to seamlessly integrate the enduring value of precious gemstones with cutting-edge blockchain technology, providing unmatched security and transparency for our clients, ensuring that each investment is as solid and timeless as the gems themselves.
KS Digital is part of Christie & Carine Group, Malaysia's first Sapphire expert gemstone shop. The gemstone comes from mines from all over the world, but mainly from mines in Sri Lanka. The company focus on mining and sourcing unique, natural world class gemstones.
For further information please visit https://www.ksgems.io/ and https://www.christiecarine.com/
About Green-X Corp
Green-X™ is a wholly-owned subsidiary of Greenpro Capital Corp (NASDAQ:GRNQ) and operate one of the world's leading Shariah-Compliant ESG Digital Asset Exchange licensed under Labuan Financial Services Authority (LFSA), Malaysia. The Green-X exchange can be found at https://www.green-x.io/
About Greenpro Capital Corp
Headquartered in Kuala Lumpur and a Nevada corporation, Greenpro Capital Corp. (NASDAQ:GRNQ), is a business incubator with strategic offices across Asia. With a diversified business portfolio comprising of finance, technology, banking, and Green-X for STOs, health and wellness as well as 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. This is done 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. Greenpro also operates venture capital businesses, including business development for start-ups and high growth companies.
For further information regarding the company, please visit http://www.greenprocapital.com.
The Green-X exchange can be found at https://www.green-x.io/
Forward-Looking Statements
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.
GRNQ has 7,575,813 shares issued and outstanding with a float of 4,089,641 shares
Gilbert Loke, CFO, Director
Greenpro Capital Corp.
Email: ir.hk@greenprocapital.com
Phone: +852-3111 7718
Contact Dennis Burns. Investor Relations.
Tel (567) 237-4132
Phone: +603-2201 3192
SOURCE: Greenpro Capital Corp.
View the original press release on accesswire.com
