African infrastructure firm lands $150 million to launch crypto water token

A new cryptocurrency-powered water infrastructure system has received massive investment from the global investment firm GEM Digital.

South Africa-based H20 Securities has reportedly raised $150 million from investment firm GEM Digital through the sale of the H20N token.

By investing such a sum, GEM Digital will hold H20N tokens, which will be used to guide the financing of water supply infrastructure in areas that do not have sufficient access to fresh water.

GEM Digital is a Bahamas-based $3.4 billion investment firm specializing in alternative investments such as digital assets and resource extraction devices. H20 Securities aims to bring greater development in water infrastructure around the world and hopes that its solution will increase the availability of water for the world's population.

In a July 4 joint announcement, H20 Securities CEO Julius Steyn said, “The H2ON token is primarily focused on financing water projects internationally and not so much on engineering. technique and the construction of such projects".

GEM Digital is no stranger to investing in technologies designed to improve the impact on the environment and the lives of mankind. His portfolio includes investments in Changing World Technologies, a food waste treatment company, and Neos Ocular, a company that produces lasers to improve vision.

GEM previously invested in digital asset management service QBNK Holding AB.

H20N will be used to settle bills between H20N network participants, including water station operators and their customers. By raising funds to fund water projects, it claims to reduce the time it takes for water providers to deliver new customers compared to traditional means.

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