H2O Securities, an infrastructure firm based in South Africa, raised $150 million to introduce the CryptoWater token. The company received funding from the investment of global investment company GEM Digital.
According to H2O Securities’ operational plans, the funds received from the Water Token launch are solely for infrastructural purposes. The company will use it to facilitate water supply in places where there is a lack of sufficient fresh water. The launch of this token is the world’s first cryptocurrency water token.
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Part of H2O Securities’ objectives is to provide significant developmental change to the global water infrastructure system. Through its operations, the company works towards increasing the availability of freshwater in different parts of the world.
With H2ON tokens, water plant operators and even H2ON network participants will receive payments. H2O Securities noted that using the token is a time-effective way to generate funds for its projects. This will cut down on the time taken to deliver water to new customers as compared to the traditional method.
GEM Digital Investment Journey
Gem Digital’s reputation precedes it in the investment space. Based in the Bahamas, the strong firm is worth up to $3.4 billion. Through its $150 million investment, GEM Digital will own H2ON tokens.
The H2ON token investment is not the first step in a technology-led partnership for GEM Digital. It has been engaged in several works that focus on environmental improvement and creating better living conditions for the people.
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The firm has an investment record with the laser-producing company Neos Ocular 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.
Focus of H2ON Crypto Token Launch
On July 4, the two affiliates issued a joint announcement regarding the H2ON water token. Julius Stein, CEO of H2O Securities, said that the thrust of the H2ON token investment is to further the company’s goals. It is primarily on global financing of water projects with less focus on the engineering aspects of the projects.
Furthermore, the infrastructure firm revealed that the H2ON water token will be listed on the Bitmart exchange on Monday. It has been open on several decentralized crypto exchanges for some time now.
After listing on Bitmart, the token will be listed on secondary markets starting Thursday. Extensive listing will enable more people to engage in token investments. CEO Stan explained that the initial listing on the decentralized platform generated interest in the coin.
Featured image from Pexels, chart from TradingView.com
