South African Firm Launches 'Crypto Water Token' - $150M received investment
South African Cryptocurrency
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South African Firm Launches 'Crypto Water Token' - $150M received investment
The South African company behind the so-called Crypto Water token is reported to have secured a $150 million investment from GeM Digital, a Bahamas-based digital asset management company. Initially available only on decentralized exchanges, theH2ON token was recently listed on the crypto exchange platform Bitmart.
H2O Securities, a South Africa-based water infrastructure firm, is reported to have launched what is described as the world's first crypto water token. According to the firm, the token is expected to provide access to the company's H2O water network. GEM Digital, a Bahamas digital asset investment company, is said to have already invested $150 million in the water infrastructure firm.
On its website, H2O Securities claims that the H2O Water network is "a closed-loop ecosystem," where tokens are used as a method to reward those who participate in the network. GEM Digital, on the other hand, says it sources, structures and invests over 30listed utility tokens.
A South Africa-based water foundation firm, H2O Protections, is accounted for to have sent off what has been depicted as the "world-first crypto water token." As indicated by the firm, the token is supposed to give admittance to the organization's H2O water organization. As of now, a Bahamas computerized resource speculation organization, Diamond Advanced, is said to have put $150 million in the water foundation firm.
Which was recorded on the crypto trade stage Bitmart on July 3, would open up on optional business sectors by July 7. The token has been accessible in decentralized trades for the beyond couple of months, the report said.
On its site, H2O Protections guarantees the H2O Water Organization is "a shut circle biological system" where the token is utilized as a technique for compensating those taking part in the organization. Diamond Computerized, then again, says it sources, structures, and puts resources into more than 30 recorded utility tokens.
South Africa’s GeoM Digital infrastructure firm has raised an undisclosed amount from the man who made waves in the cryptocurrency market last year. The company hopes to use the funds to develop its H2O Water network, which will enable consumers to pay for water with a new cryptocurrency token called H2O Tokens.