South African cryptocurrency-focused company H20 Water Securities has raised $150 million through the sale of its native token – the H20N token, from GEM Digital Investment firm. The latest investment comes amid a decline in crypto investment, raging crypto market upheaval, market selloffs, and several crypto firms pausing withdrawals and transfers of cryptocurrency. It is, therefore, quite a huge feat that H2O Water Securities was able to raise $150 million, and from a single investor?
Worth $3.4 billion, GEM Digital is an investment company that deals with alternative investments. Based in the Bahamas, GEM Digital specializes in investments such as digital assets and resource extraction devices. H20 Water Securities, on the other hand, is a company that’s looking to solve water scarcity challenges using blockchain. While the company is focused on cryptocurrencies, it combines finance, infrastructure, and expertise to develop, deploy and operate water plants. Its aim is to provide water infrastructure and solutions to water challenges on a global scale. The company hopes to increase water availability with its solutions.
GEM Digital’s $150 million investment will be used to fund water delivery infrastructures needed in areas that either does not have access or have poor access to fresh water. “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 of H20 Securities Julius Steyn said in a joint statement issued on the 4th of July.
H20N token got listed on the Bitmart centralized exchange (CEX) launchpad initial decentralized offer (IDO) platform on Monday but the token has been available for purchase in the last few months on DeFi platforms. H20N is listed on DeFi platforms for $0.75 and has traded as high as $11, a 1,366% gain.
GEM Digital has a history of investing in environment-focused and humanitarian projects. The company has invested in companies such as Neos Ocular, a company producing lasers to improve vision, and food waste processing firm Changing World Technologies.
Ibhadojemu Lucky Emmanuel is a graduate of Education and Economics from the University of Benin. He has a passion for tech and business and has been writing professionally for over a period of five years. He's written across various topics and segments and knew tech-business was it when he first stumbled on it. He has a great passion for music and arts, and wants to visit as many countries as he can someday.
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