GEM Digital, a global investment group, has made a significant investment in a new cryptocurrency-powered water delivery infrastructure system, the H2ON token.
H20 Securities, based in South Africa, is said to have raised $150 million from the GEM Digital investment firm through the sale of the H20N token.
GEM Digital will own H20N tokens as a result of its massive investment, which will be used to guide investments in water delivery infrastructure in locations where fresh water is scarce.
GEM Digital, situated in the Bahamas, is a $3.4 billion investment corporation that specializes in alternative investments such as digital assets and resource extraction equipment. H20 Securities intends to accelerate global water infrastructure development and thinks that its solution will enhance water availability to the world’s population.
In a joint announcement on July 4, CEO of H20 Securities Julius Steyn stated, “The focus with the H2ON token is primarily on the worldwide financing of water projects, rather than the technical engineering and building of such projects.”
GEM Digital is no stranger to investing in technologies that aim to better the environment and human living situations. Its portfolio includes investments in Changing World Technologies, a food waste processing company, and Neos Ocular, a laser manufacturer.
GEM previously invested in QBNK Holding AB, a digital asset management business.
H20N will be used to settle invoices between H20N network members, such as water plant operators and their customers. It says that generating capital to finance water projects, it will shorten the time it takes water suppliers to deliver to new clients when compared to existing methods.
On the same day as the announcement, H20N was listed on the Bitmart centralized exchange (CEX) launchpad initial decentralized offer (IDO) platform.
