South Africa-based H20 Securities has reportedly raised $150 million from the GEM Digital funding agency by means of the sale of the H20N token.
By investing such an amazing quantity, GEM Digital will maintain H20N tokens, which shall be used to information funding in water supply infrastructure in areas that lack enough entry to contemporary water.
GEM Digital is a $3.4 billion Bahamas-based funding agency specializing in different investments equivalent to digital belongings and useful resource extraction units. H20 Securities goals to deliver extra important improvement in water infrastructure worldwide and hopes that its answer will improve water availability to the world’s inhabitants.
In a joint announcement on July 4, CEO of H20 Securities Julius Steyn mentioned, “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 isn’t any stranger to investing in applied sciences designed to enhance environmental results and residing situations for humanity. Its portfolio consists of investments in Changing World Technologies, a meals waste processing agency, and Neos Ocular, a agency that produces lasers to enhance imaginative and prescient.
GEM beforehand invested within the digital asset administration service QBNK Holding AB.
H20N shall be used to settle payments between H20N community members, together with water plant operators and their shoppers. By elevating funds to finance water tasks, it claims to scale back the time it takes for water suppliers to ship to new shoppers in contrast with conventional means.
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Coinciding with the announcement, H20N was additionally listed on the Bitmart centralized alternate (CEX) launchpad preliminary decentralized supply (IDO) platform on July 4.