A new cryptocurrency-powered water supply infrastructure system has received a massive investment from global investment firm GEM Digital.
South Africa-based H20 Securities has raised $150 million from investment firm GEM Digital through the sale of the H20N token.
By investing such a large amount, GEM Digital will have H20N tokens, which will be used to target funding for water distribution infrastructure in areas that do not have sufficient access to fresh water.
GEM Digital is a $3.4 billion investment firm based in the Bahamas that specializes in alternative investments such as digital assets and resource mining devices. H20 Securities aims to bring about more significant 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 joint announcement on July 4, H20 Securities CEO Julius Steyn said: “The focus with the H2ON token is primarily to finance water projects internationally and not so much the technical engineering and construction of such projects.” .
GEM Digital is used to investing in technologies designed to improve the environmental effects and living conditions of humanity. His portfolio includes investments in Changing World Technologies, a food waste processing company, and Neos Ocular, a company that produces lasers to improve vision.
GEM previously invested in digital asset management service QBNK Holding AB.
The H20N will be used to settle accounts between H20N network participants, including water plant operators and their customers. By raising funds to finance water projects, it aims to reduce the time it takes for water providers to deliver to new customers compared to traditional means.