Gowin New Energy Group (AIM:GWIN) is launching a project to tokenise premium tea as a real-world asset, reviving a business it first set up in 2018.
The AIM-quoted company diversified into specialist Asian tea trading through subsidiary Rosin Trading following a 2017 shareholder vote, but activity stayed modest due to direct access to upstream tea factories and pandemic-related supply disruption.
Under the new structure, a Taiwanese subsidiary, Rosin Trading Taiwan, will purchase tea and store it in a warehouse fitted with AI-controlled environmental sensors for continuous proof-of-reserve auditing.
Bitfinex Securities El Salvador, an unconnected third party holding a Digital Asset Service Provider licence in El Salvador, will tokenise the tea and handle all investor recruitment and onboarding.
Subscription proceeds flow to the Taiwanese subsidiary, which covers costs and expects a net return, while the underlying tea is held on trust for token holders under Taiwan's Trust Act, redeemable for physical delivery.
Gowin will now seek Bitfinex's approval for an initial pilot issuance capped at $2.5 million, with a minimum threshold of $1.0 million, before formalising agreements with counterparties.
Mr Chen Chih-Lung has committed to fund any working capital shortfall, a related party transaction subject to the company's disclosure procedures under the Aquis Growth Market Rules.
Further updates will follow as the approvals process progresses.
