SOUTH AFRICA – H20 securities, the South African startup that is responsible for the creation of the world’s first water crypto-currency, has successfully raised US$150 million through the sale of its tokens and has listed on the BitMart exchange.
This is the first of many exchanges that they plan to add in the coming months.
Following the listing, the US$H2ON token will be available for trading (buying and selling). Additionally, the token has been made available for trading on the ApeSwap DeFi platform.
The $H2ON Water Utility Cryptographic Token is the first of its kind in the world, and it enables a more rapid deployment of water infrastructure and solutions. The purpose of the token is to contribute to the financing of water projects all around the world.
H2O Securities is responsible for the creation of the H2O Water Network as well as the world’s first water utility cryptographic token, which is denoted by the symbol $H2ON. The creation of this token is intended to assist in the financing of global water projects.
The Internet of Things (IoT) is going to be used by H2ON to connect water generating plants that are located in the real world to the blockchain, and these plants will be managed by immutable smart contracts.
Participants in the H2O Water Network can make use of their holdings of $H2ON Tokens to: Connect additional water plants to the H2O Water Network Include water distribution network service and purchase or make payments for services that are associated with the H2O Water Network.
Recently, the venture received finance support from GEM Digital, which contributed US$150 million in the form of an investment.
This sizeable investment from GEM Digital, a US$3.4 billion assets investment firm based in the Bahamas that specialises in alternative investments, demonstrates the firm’s faith in the capabilities of H2O Securities’ new water delivery infrastructure system, the H2O Water Network powered by the cryptocurrency ($H2ON).
“We believe that through H2O Securities’s H2O Water Network, that combines the strengths of traditional and decentralized finance, as well as the linking of real-world water producing assets with blockchain markets, we can produce more water infrastructure faster and more cost effectively, thereby contributing to a more sustainable future,” Julius Steyn, Founder and CEO, H20 Securities, said.
The $H2ON Token is eligible for unrestricted trading on any DEX or CEX where it is listed, and it can be staked for a length of time ranging from 30 to 730 days at a time.