Web3 Firm Acquires Creator of South Africa's First Listed PoW Crypto, Safcoin
A Web3 generation organization, Virtual Nation Builders, lately stated it obtained FHM, the organization that created safcoin, South Africa’s touted first evidence-of-work cryptocurrency to list on a international exchange. As a end result of the Web3 firm’s acquisition of FHM, the cryptocurrency will now “listing and merge all its virtual use-cases and platforms into the new VNB-constructed Cowrie change and partnerships.”
Supporting Clients’ Digital Needs
Virtual Nation Builders (VNB), a Web3 era organization, recently revealed it had acquired FHM (Pty) Ltd., the South Africa-based totally author of what's dubbed Africa’s first cryptocurrency — safcoin.
In a assertion, VNB, which is 30% owned by using the blockchain law corporation Schindlers Attorneys, defined the aggregate of the 2 businesses as an crucial step to be able to assist their respective “customers’ virtual wishes inside the Web3 revolution.”
As a result of FHM’s acquisition by way of VNB, the safcoin cryptocurrency, which changed into launched in 2018, “will listing and merge all its virtual use-cases and systems into the brand new VNB-built Cowrie trade and partnerships.”
Commenting on the plans to list on more exchanges, Neil Ferreira, the co-founder and CEO at FHM, said:
Together with VNB, we plan to extend our international reach with greater global alternate companion listings. We had proper guide from the international crypto marketplace with our first listing, and we are proud to be flying the SA [South African] flag into the global crypto sphere.
Described as South Africa’s first proof-of-paintings cryptocurrency to listing on a worldwide trade platform, safcoin is reportedly traded on Hotbit and Chainex.
Blockchain Enabled Opportunities
Meanwhile, Maurice Crespi, a partner at Schindlers Attorneys and the CEO of VNB, is quoted inside the statement touting the 2’s agencies’ involvement inside the a hit auction of the non-fungible token (NFT) of former South African president Nelson Mandela’s arrest warrant.
“The sale gave a glimpse of the possibilities supplied by the digital realm through virtualisation. The opportunities that blockchain allows and its programs are no longer confined to finance. The use of blockchain—and especially smart contracts—may be carried out in numerous industries, which include community upliftment and enterprise performance,” Crespi explained.
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