Web3 Firm Acquires Creator of South Africa’s First Listed PoW Crypto, Safcoin

Virtual Nation Builders, a Web3 technology company said that it had acquired FHM, South Africa's first proof-of work cryptocurrency. The Web3 company's acquisition FHM means that the cryptocurrency will "list and merge all of its digital use-cases into the VNB-built Cowrie Exchange and Partnerships strong>

Supporting clients' digital needs

Virtual Nation Builders (VNB) is a Web3 technology company that recently announced it had purchased FHM (Pty) Ltd. from South Africa, which was the creator of what has been called Africa's first cryptocurrency, safcoin.

VNB, which is 30% owned in part by Schindlers Attorneys blockchain law firm, stated that the merger of the two businesses was an important step to support their respective clients' digital needs in the Web3 revolution.

FHM was acquired by VNB in 2018. The safcoin crypto, which was launched 2018 "will list all its digital use cases and platforms into the VNB-built Cowrie Exchange and Partnerships."

Neil Ferreira, co-founder and CEO of FHM, commented on plans to list on additional exchanges.

We plan to expand our global reach together with VNB by listing more international exchange partners. With our first listing, we received positive support from the international cryptocurrency market and are proud to fly the SA flag in the global crypto sphere.

Safcoin has been described as South Africa's first crypto-proof-of-work to be listed on a global exchange platform. It is currently traded on Hotbit, Chainex and Chainex.

Blockchain-enabled opportunities

Maurice Crespi (a Schindlers Attorneys partner and CEO of VNB) is quoted in the statement praising the involvement of their companies in the auction of the non-fungible token NFT of Nelson Mandela's arrest warrant.

The sale provided a glimpse into the potential of virtualisation and the digital realm. Blockchain's applications and opportunities are not limited to finance. Crespi said that blockchain, and specifically smart contracts, can be used in many industries, including community development and business efficiency.

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By: Terence Zimwara
Title: Web3 Firm Acquires Creator of South Africa’s First Listed PoW Crypto, Safcoin
Sourced From: news.bitcoin.com/web3-firm-acquires-creator-of-south-africas-first-listed-pow-crypto-safcoin/
Published Date: Sun, 18 Sep 2022 09:30:43 +0000

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