GEM Digital, a global investment firm, has invested heavily in a new water delivery system that uses cryptocurrency. H20 Securities, a South African investment firm, has raised $150 million through the sale H20N token.
GEM Digital has invested a huge amount and will now hold H20N tokens. These tokens will be used by GEM Digital to fund water delivery infrastructure projects in areas without sufficient access to water.
GEM Digital, a $3.4B Bahamas-based investment company that specializes in alternative investments like digital assets and resource extraction devices, is $3.4Billion. H20 Securities hopes to make water infrastructure more accessible worldwide.
H20 Securities Julius Steyn announced the joint announcement July 4th. stated that the token’s primary focus is on financing water projects worldwide and not on the engineering or construction of these projects.
GEM Digital has a long history of investing in technology that will improve the environment and human living conditions. Its portfolio contains investments at Changing World Technologies, a food processing company, and Neos Ocular which produces lasers to improve sight.
GEM has previously invested in QBNK Holding AB, a digital asset management service.
H20N will be used for settlement of bills between participants in the H20N network, including water plant operators with their clients. It claims that by raising funds to finance water projects it will reduce the time taken for water suppliers to deliver water to new clients than traditional methods.
The announcement coincided with H20N being listed on Bitmart centralized Exchange (CEX), launchpad initial Decentralized Offer (IDO) platform.