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H20 Securities Owned Crypto Water Token H20N Raises $150M - TheNewsCrypto

Finance

thenewscrypto.com 05 July 2022 15:30, UTC
  
Reading time: ~2 m

  • These tokens will be used to direct funds for water delivery infrastructure.
  • Water plant owners and their customers will utilize H20N to pay their accounts.

H20 Securities, situated in South Africa, purportedly raised $150 million from GEM Digital via the sale of the H20N coin. GEM Digital will own H20N tokens as a result of this massive investment. These tokens will be used to direct funds for water delivery infrastructure in locations with a severe shortage of access to clean drinking water. The new H20 Securities branch of South Africa’s Exchange Trust Settlement Services built the technology, effectively providing the world’s first crypto water token.

Increasing Clean Water Accessibility 

GEM Digital is a $3.4 billion investment corporation founded in the Bahamas that focuses on alternative investments such as digital assets and resource extraction technologies. Regarding water infrastructure development, H20 Securities expects its solution to help make water more accessible to a larger population globally.

CEO of H20 Securities Julius Steyn stated:

 “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 a long history of investing in technology that benefits the environment and human well-being. Changing World Technologies, a company that processes food waste, and Neos Ocular, a company that makes lasers to enhance eyesight, are two companies in its portfolio. QBNK Holding AB, a provider of digital asset management services, was an initial investment of GEM.

In the H20N network, water plant owners and their customers will utilize H20N to pay their accounts. It promises to shorten the time it takes for water providers to reach new customers by seeking funding to finance water projects.

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