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

A Web3 technology company, Virtual Nation Builders, lately mentioned it acquired FHM, the agency that created safcoin, South Africa’s touted first proof-of-work cryptocurrency to record on a world alternate. As a outcome of the Web3 agency’s acquisition of FHM, the cryptocurrency will now “list and merge all its digital use-cases and platforms into the new VNB-built Cowrie exchange and partnerships.”

Supporting Clients’ Digital Needs

Virtual Nation Builders (VNB), a Web3 technology agency, lately revealed it had acquired FHM (Pty) Ltd., the South Africa-based creator of what’s dubbed Africa’s first cryptocurrency — safcoin.

In a statement, VNB, which is 30% owned by the blockchain regulation agency Schindlers Attorneys, described the mix of the 2 companies as an vital step that can help their respective “clients’ digital needs in the Web3 revolution.”

As a outcome of FHM’s acquisition by VNB, the safcoin cryptocurrency, which was launched in 2018, “will list and merge all its digital use-cases and platforms into the new VNB-built Cowrie exchange and partnerships.”

Commenting on the plans to record on extra exchanges, Neil Ferreira, the co-founder and CEO at FHM, mentioned:

Together with VNB, we plan to increase our world attain with extra worldwide alternate accomplice listings. We had good help from the worldwide crypto market with our first itemizing, and we’re proud to be flying the SA [South African] flag into the worldwide crypto sphere.

Described as South Africa’s first proof-of-work cryptocurrency to record on a world alternate platform, safcoin is reportedly traded on Hotbit and Chainex.

Blockchain Enabled Opportunities

Meanwhile, Maurice Crespi, a accomplice at Schindlers Attorneys and the CEO of VNB, is quoted within the assertion touting the 2’s firms’ involvement within the profitable public sale of the non-fungible token (NFT) of former South African president Nelson Mandela’s arrest warrant.

“The sale gave a glimpse of the possibilities offered by the digital realm through virtualisation. The opportunities that blockchain enables and its applications are no longer limited to finance. The use of blockchain—and specifically smart contracts—can be applied in various industries, including community upliftment and business efficiency,” Crespi defined.

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Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, writer and author. He has written extensively in regards to the financial troubles of some African nations in addition to how digital currencies can present Africans with an escape route.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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