South African company H20 Securities has sold its $150 million worth of H20N tokens to Bahamian digital asset investment firm GEM Digital.
H20 Securities is engaged in the creation and financing of projects for the delivery of fresh water to African regions. According to company CEO Julius Steyn, the H20N is mainly intended for project financing at the international level, and not for their technical design. That is, the company is looking for individual contractors.
GEM Digital, which manages about $3.4 billion in assets, is investing in digital assets and resource mining devices. The company will use H20N tokens to fund infrastructure for delivering water to areas where there is no access to fresh water.
GEM Digital has previously invested in projects that improve the environment, such as food waste recycling company Changing World Technologies. In addition, her portfolio includes investments in Neos Ocular, a company that produces lasers to improve vision.
H20N tokens will be used to pay bills between network participants, including water treatment plant operators and their customers. By raising funds to fund such projects, the company claims to reduce the time it takes for suppliers to deliver water to new customers.
Earlier, cryptocurrency exchange FTX announced that it plans to create a $1 billion charitable foundation to prevent the next pandemic and also fight environmental issues.
Source: Bits
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