South African Firm Raises $150 Million To Introduce Crypto Water Tokens Dubbed H2ON
H2O Securities, an infrastructural firm based in South Africa, generated $150 million to introduce crypto water tokens. The company landed the funds from the investment of GEM Digital, a global investment company.
According to the operational plans of H2O Securities, funds from the water token launch are solely for infrastructural purposes. The company would use it to facilitate water supplies to places that lack adequate fresh water. The launch of this token marks the world’s first cryptocurrency water token to exist.
Part of the objectives of H2O Securities is to provide significant developmental changes in the global water infrastructural system. Through its operations, the company works toward increasing freshwater availability in different parts of the world.
With the H2ON tokens, water plant operators and even the H2ON network participants would receive payments. H2O Securities mentioned that using the tokens to generate funds for its projects is a time-effective approach. It would cut down the time water suppliers spend delivering to new customers compared to the traditional method.
GEM Digital Investment Journey
The reputation of Gem Digital precedes it in the investment space. Based in the Bahamas, the robust firm is worth up to $3.4 billion. Through its investment of $150 million, GEM Digital would hold H2ON tokens.
The H2ON token investment is not the first plunge for GEM Digital into a technology-based involvement. It has been engaging in several operations that focus on creating environmental improvement and better living conditions for people.
The firm has an investment record with Neos Ocular, a lacer-producing company for visual improvement. In addition, it invested in Changing World Technologies, which engages in food waste processing. Also, the investment firm had invested in QBNK Holding AB, a digital asset management service.
The Focus Of H2ON Crypto Token Launch
On July 4, the two collaborating firms released a joint announcement concerning the H2ON water tokens. Julius Steyn, H2O Securities CEO, stated that the emphasis of the H2ON token investment is to boost the company’s goals. It is mainly on global financing of water projects with less focus on the engineering aspects of the projects.
Additionally, the infrastructural firm disclosed that the H2ON water token would be listed on the Bitmart exchange on Monday. It has been open for some time now on several decentralized crypto exchanges.
Following its listing on Bitmart, the token would become listed on secondary markets from Thursday. The broader listing would enable more people to engage in the token investment. CEO Steyn explained that the initial listing in decentralized platforms created interest in the token.Source