South Africa-based Blockchain infrastructure company H2O Securities has recently raised $150 million from the Bahamas-based investment firm GEM Digital via a sale of the H2ON token.
GEM Digital will possess H2ON tokens as a result of their massive investment, and these tokens will be used to channel funding for water delivery infrastructure in places where there is a severe lack of access to fresh water.
The $3.4 billion investment company GEM Digital specializes in non-traditional investments like digital assets and tools for extracting resources. H2O Securities believes that its solution will enhance the amount of water available to the world’s population while also bringing significant growth in water infrastructure globally.
“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,” CEO Julius Steyn stated in a joint release.
Bills between H2ON network participants, such as water plant operators and their customers, will be settled using H2ON. It claims to shorten the time it takes for water suppliers to deliver to new customers as compared to conventional methods by raising money to finance water projects.
H2ON token listing
The water token by H2O was also listed on the Bitmart launchpad initial decentralized offer (IDO) platform on July 4 to coincide with the announcement.
GEM Digital has a history of making investments in technologies that aim to better the environment and human living standards. It has investments in Neos Ocular, a company that makes lasers to improve eyesight, and Changing World Technologies, a company that processes food waste. GEM had previously made an investment in QBNK Holding AB, a provider of digital asset management services.