H2O Water Securities, a South African company, that launched the world’s first crypto water token, has secured an investment of $150 million from GEM Digital. The network’s token will provide access to the company’s H2O water network.
GEM Digital, a Bahamas digital asset investment company, invested $150 million into H2O Water Securities. It is known to invest in utility tokens listed on over 30 centralized and decentralized exchanges around the world. H2ON (Water Network) crypto token is a means to raise capital to finance global water projects.
Julius Steyn, CEO and founder of H2O Holdings, says the focus of the token is mainly on the financing water projects internationally and not so much on the technical engineering and construction of such projects. He said the company will be listed on the global cryptocurrency exchange Bitmart. It will also be available on secondary markets so people will be able to invest in water infrastructure. Moreover, the token has been available for the past few months on decentralized cryptocurrency exchanges.
Steyn highlighted that the initial listing provided the company with proof of great interest in the concept of a digital H2O Securities token. The initial price listed was $0.75 with a trading volume of $100,000. Within a few hours, it increased to $5 and exceeded $11 in less than 24 hours. The token was described as the fastest-growing token globally – peaking trading volume of over $450,000 in 24 hours.