Benzinga | Sep 8, 2020 09:03AM EDT

Greenpro Provides Details On CryptoSX Exchange And Decentralized Finance (DeFi) Businesses

KUALA LUMPUR, MALAYSIA / ACCESSWIRE / September 8, 2020 / 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.

Compliance

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.

Security

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.

Vision

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 Compound or 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.