The new token H2ON, already receiving a significant amount of attention from major investors, will be utilized to "raise capital to finance global water projects."
H2O Securities, a South African global decentralized finance (DeFI) initiative founded in 2021, has recently collected $150M from GEM Digital, an Australian-based company providing digital strategy consulting and eCommerce solutions.
The news comes amidst the company’s launch of its new world-first crypto water token dubbed H2ON, which the global digital asset trading platform Bitmart has recently listed on its IDO platform.
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According to the official announcement issued on July 4th, the new token will reportedly be leveraged to provide a boost for the water infrastructure and reduce the time it takes water providers to supply to new consumers by collecting funding for water projects.
On top of that, GEM Digital will also utilize H2ON tokens to fund the building of water delivery infrastructure in areas where there is a significant lack of access to clean water. Julius Steyn, the CEO of H2O Securities, mentioned that the H2ON token mostly focuses “on the financing of water projects internationally and not so much on the technical engineering and construction of such projects.”
Steyn noted that H2O was the "fastest-growing token" as it reached a trading volume of more than $450k in 24 hours. He added:
"Our initial decentralized listing provided us with proof of great interest in the concept of a digital H2O Securities token. With an initial listing price of about $0.75 and a trading volume of $100 000, it increased to $5.00 within just a few hours and exceeded $11.00 in less than 24 hours later."
In fact, GEM Digital is keen on investing in various corporations built with the mission of improving the world. For instance, the $3.4 billion Bahamian alternative investment firm has also previously invested in QBNK Holding AB, Neos Ocular, and Changing World Technologies.
