The South African company behind the so-called “crypto water token” has reportedly secured a $150 million investment from Bahamas-based digital asset management company GEM Digital. Initially available only on decentralized exchanges, the H2ON token was recently listed on Bitmart, a crypto exchange platform.
Water Network
South Africa-based water infrastructure company H2O Securities has reportedly launched what is being described as the “world’s first crypto water token.” According to the company, the token is expected to provide access to its H2O Water network. Already, GEM Digital, a Bahamian digital asset investment firm, has reportedly invested $150 million in the water infrastructure company.
CNBC TV18 reportsThe token, listed on the crypto exchange platform Bitmart on July 3, will be available on the secondary market by July 7. The tokens have reportedly been available on decentralized exchanges for the past several months.
In remarks following the revelation of GEM Digital’s investment, Julius Steyn, CEO and founder of H2O Holdings, said.
The focus of the H2ON token is primarily on financing international water projects and not so much on the technical engineering of such projects.
Regarding the prior listing of the tokens on a decentralized exchange, Stein said that doing so has shown that there is significant interest in H2O tokens.
H2O Securities claimed on itswebsitethat the H2O Water Network is a “closed-loop ecosystem” and that tokens are used as a way to reward people for joining the network. GEM Digital, on the other hand,says it has raised, structured, and invested in over 30 listed utility tokens
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