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

A Web3 expertise firm, Virtual Nation Builders, lately stated it acquired FHM, the agency that created safcoin, South Africa’s touted first proof-of-work cryptocurrency to listing on a world trade. As a results of the Web3 agency’s acquisition of FHM, the cryptocurrency will now “listing and merge all its digital use-cases and platforms into the brand new VNB-built Cowrie trade and partnerships.”

Supporting Clients’ Digital Needs

Virtual Nation Builders (VNB), a Web3 expertise 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 mixture of the 2 companies as an necessary step that can assist their respective “purchasers’ digital wants within the Web3 revolution.”

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

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

Together with VNB, we plan to increase our international attain with extra worldwide trade associate listings. We had good assist 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 listing on a world trade platform, safcoin is reportedly traded on Hotbit and Chainex.

Blockchain Enabled Opportunities

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

“The sale gave a glimpse of the chances provided by the digital realm by means of virtualisation. The alternatives that blockchain allows and its purposes are now not restricted to finance. The use of blockchain—and particularly sensible contracts—might be utilized in numerous industries, together with group upliftment and enterprise effectivity,” Crespi defined.

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