South Africa based Firm secures $150M investment to launch crypto water token

By: Dickson Arinze

July 6, 2022 3:30 AM

H20, a water delivery infrastructure system powered by cryptocurrency has received a huge investment from global investment firm GEM Digital.

GEM Digital, a Bahamas-based investment firm has reportedly invested $150 million in H20 securities, a South Africa based water delivery infrastructure.

 
The investment firm will hold H20N tokens, which will be used to guide funding in water delivery infrastructure in areas that lack sufficient access to clean water.

GEM Digital, which is valued at $3.4 billion specializes in alternative investments such as digital assets and resource extraction devices. However, the African based H20 Securities focus is to bring more significant development in fresh water infrastructure worldwide.

Julius Steyn, CEO of H20 securities said, “The focus with the H2ON token is mainly on the financing of water projects internationally and not so much on the technical engineering and construction of such projects.”

GEM Digital has previously invested in QBNK Holding AB, a digital asset management firm. Also in its portfolio, the firm has made series of investment into companies that focus on technologies designed to improve the living conditions for humans.

H20N  token will be used to pay bills between H20N network participants. H20 securities reported after raising funds to finance water projects globally, the firm believes it can reduce the time it takes for water suppliers to deliver to new clients compared with current traditional method.

H20N was listed on the Bitmart initial decentralized offer (IDO) platform on Monday same day of the announcement.