H2O Securities, a South African company and subsidiary of Exchange Trust Settlement Services, has launched its H20N token to facilitate the deployment of clean water infrastructure. Betting on its success, investor GEM Digital has invested $150 million in this new token.
H2O Securities raises $150 million from GEM
H20 Water Securities, a branch of South African company Exchange Trust Settlement Services and which uses blockchain technology to develop drinking water structures, has just raised 150 million euros.
According to the company, more than 2 billion people (30% of the world’s population) have precarious access to clean water, and this figure could reach 50% of the global population by 2030. According to the company, the problem is maintained and even amplified because of the lack of funding for projects aimed at solving this problem, which is why it decided to create its own token “H2ON”.
This token should help reduce the roadblocks usually encountered during traditional funding procedures, the site reads:
“[The H2ON token] allows people around the world to actively participate in the deployment of more water infrastructure projects and connected services. It reduces the barriers to deploying more water infrastructure, faster, globally, and unlocking new sources and approaches to water production. It is managed more efficiently than traditional financial models.”
The funds generated by the token will be used to build new infrastructure for this purpose, including via water treatment plants. According to the company, where the usual procedures allow for a single sewage treatment plant to be set up over a period of about 300 days, the blockchain technology will allow it to build 5.
A token soon to be listed on Bitmart
The H2ON token is a BEP20 token, meaning it takes its place on the NBB Chain. Launched on July 4 on the Bitmart exchange via its launchpad, its entry on the secondary market is scheduled for tomorrow, Thursday July 7.
Holding H2ON tokens gives access to the H2O Network, and allows to obtain rewards notably via a staking system on the platform.
For each liter of water treated by a drinking water infrastructure, the smart contract will automatically buy H20N tokens via a third party exchange. The purchase will be made from automated wallets holding USDT. The tokens will then be used to pay for maintenance and various costs related to the infrastructure in question such as upgrades, renovations, water distribution, energy needed for its operation, etc.
According to Julius Steyn, the CEO of H2O Securities, this initiative is mainly aimed at facilitating the means to finance the necessary infrastructure:
“The focus of the H2ON token is primarily on financing water projects on an international scale and not so much on the technical engineering and construction of those projects.”
For its part, GEM Digital is accustomed to investments aimed at improving the lives of humanity; its portfolio includes investments in Neos Ocular, a company working to cure presbyopia via lasers.