GCL Energy Technology Co Ltd, a leading Suzhou-based energy investment company, has successfully developed China’s first technical standard for blockchain-based real-world asset (RWA) tokenization, receiving official approval from the China Academy of Information and Communications Technology (CAICT) on March 26.

The standard establishes a trust framework for the trillion-dollar RWA market, requiring asset tokenization to meet three key principles: integrity, validity, and timeliness, with data collected directly from certified IoT devices.

GCL Energy Technology(协鑫能源科技股份有限公司), headquartered in Suzhou, Jiangsu Province, is a global innovative enterprise focusing on integrated energy solutions including wind, solar, energy storage, and hydrogen. The company ranks among China’s top 500 enterprises and has maintained its position as the leader in the new energy sector.

In December 2023, GCL partnered with Ant Digital Technologies to launch China’s first RWA project for photovoltaic assets valued at over 200 million yuan ($27.7 million). The project is anchored by 82MW of residential solar assets in Hubei and Hunan provinces.

“By integrating blockchain and IoT technologies, we encrypt and tokenize critical operational data and revenue streams, creating traceable and tamper-proof digital tokens,” said a company spokesperson.

The underlying assets for the RWA project are operational photovoltaic stations with clear property rights and stable returns. GCL packages these assets into Special Purpose Vehicle (SPV) companies and uses blockchain technology to digitally process asset information, including encrypting private information and digitally coding individual power stations.

The strategic partnership signed in December 2023 aims to deepen collaboration across distributed PV, energy storage, and integrated energy services. Ant’s “Two Chains One Bridge” platform has already enabled GCL to tokenize asset ownership and fund flows, with future applications extending to carbon credit trading.

Industry analysts note GCL’s dual role as both standard-setter and large-scale practitioner strengthens its leadership in green finance. The specifications are expected to unlock global capital flows for China’s renewable infrastructure and enhance ESG recognition through blockchain transparency.

According to Boston Consulting Group, the global tokenized asset market is projected to reach $16 trillion by 2030, representing nearly 10% of global GDP. A Citibank report suggests RWA could be key to bringing the blockchain industry to a scale of tens of trillions of dollars.