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Web3 Firm Acquires Creator of South Africas First Listed PoW Crypto, Safcoin

A Web3 technology company, Virtual Nation Builders, recently said it acquired FHM, the firm that created safcoin, South Africas touted first proof-of-work cryptocurrency to list on a worldwide exchange. Because of the Web3 firms acquisition of FHM, the cryptocurrency will now list and merge all its digital use-cases and platforms in to the new VNB-built Cowrie exchange and partnerships.

Supporting Clients Digital Needs

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

In a statement, VNB, that is 30% owned by the blockchain lawyer Schindlers Attorneys, described the mix of both businesses being an important step which will support their respective clients digital needs in the Web3 revolution.

Because of FHMs acquisition by VNB, the safcoin cryptocurrency, that was launched in 2018, will list and merge all its digital use-cases and platforms in to the new VNB-built Cowrie exchange and partnerships.

Commenting on the plans to list on more exchanges, Neil Ferreira, the co-founder and CEO at FHM, said:

As well as VNB, we intend to extend our global reach with an increase of international exchange partner listings. We’d good support from the international crypto market with this first listing, and we have been proud to be flying the SA [South African] flag in to the global crypto sphere.

Referred to as South Africas first proof-of-work cryptocurrency to list on a worldwide exchange platform, safcoin is reportedly traded on Hotbit and Chainex.

Blockchain Enabled Opportunities

Meanwhile, Maurice Crespi, somebody at Schindlers Attorneys and the CEO of VNB, is quoted in the statement touting the twos companies involvement in the successful auction of the non-fungible token (NFT) of former South African president Nelson Mandelas arrest warrant.

The sale gave a glimpse of the options provided by the digital realm through virtualisation. The opportunities that blockchain enables and its own applications are no more limited by finance. The usage of blockchainand specifically smart contractscan be employed in a variety of industries, including community upliftment and business efficiency, Crespi explained.

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Terence Zimwara

Terence Zimwara is really a Zimbabwe award-winning journalist, author and writer. He’s got written extensively concerning the economic troubles of some African countries along with how digital currencies can offer Africans having an escape route.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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