Web3 technology company, Virtual Nation Builders, recently said it has acquired FHM, the company that created safcoin, South Africa’s first proof-of-work cryptocurrency listed on a global exchange. As a result of the acquisition of the Web3 company from FHM, the cryptocurrency will now “list and integrate all digital use cases and platforms into the Cowrie exchange and partnership built by VNB.”
Supporting Clients’ Digital Needs
Virtual Nation Builders (VNB), a Web3 technology company, recently announced that it has acquired FHM (Pty) Ltd., the South African creator of what it calls Africa’s first cryptocurrency – safcoin.
At statementVNB, which is 30% owned by the blockchain law firm Schindlers Attorneys, described the combination of the two businesses as an important step that will support “clients’ digital needs in the Web3 revolution.”
As a result of the acquisition of FHM by VNB, the safcoin cryptocurrency, launched in 2018, “will list and integrate all digital use cases and platforms into the Cowrie exchange and partnership built by VNB.”
Commenting on the plan to list on another exchange, Neil Ferreira, co-founder and CEO at FHM, said:
Together with VNB, we plan to extend our global reach with a list of other international exchange partners. We have great support from the international crypto market with our first listing, and we are proud to fly in SA [South African] flag to the global crypto sphere.
Described as South Africa’s first proof-of-work cryptocurrency to be listed on a global exchange platform, safcoin is reportedly traded on Hotbit and Chainex.
Blockchain Enabled Opportunities
Meanwhile, Maurice Crespi, partner at Schindlers Attorneys and CEO of VNB, was quoted in a statement touting the involvement of both companies in the success. auction of the non-fungible token (NFT) of the arrest warrant of former South African president Nelson Mandela.
“The sale gives an overview of the possibilities offered by the digital world through virtualization. The opportunities that blockchain and its applications can bring are no longer limited to finance. The use of blockchain – and in particular smart contracts – can be applied in various industries, including community upliftment and business efficiency ,” explained Crespi.
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