Web3 acquires Safcoin – Africa Bitcoin News, the creator of South Africa’s first listed PoW cryptocurrency

Web3 acquires Safcoin – Africa Bitcoin News, the creator of South Africa’s first listed PoW cryptocurrency


Web3 technology company, Virtual Nation Builders, recently said it had acquired FHM, the company that created safcoin, the first South African proof-of-work cryptocurrency to be listed on a global exchange. As a result of Web3’s acquisition of FHM, the cryptocurrency will now “incorporate and integrate all digital use cases and platforms into Cowrie’s new VNB-based exchange and partnerships.”

Supporting customer digital needs

Virtual Nation Builders (VNB), a Web3 technology company, recently revealed that it has acquired FHM (Pty) Ltd.

in statementVNB, which is 30% owned by law firm Schindlers, described the combination of the two firms as an important step that will support “customers’ digital needs in the Web3 revolution.”

As a result of VNB’s acquisition of FHM, cryptocurrency safcoin, launched in 2018, “will incorporate all of its digital use cases and platforms and integrate them into Cowrie’s new VNB-based exchange and partnerships.”

Commenting on plans to list more exchanges, Neil Ferreira, Co-Founder and CEO of FHM said:

Together with VNB, we plan to expand our global reach with more international exchange partner lists. We have been well supported by the international crypto market with our number one list and we are proud to be flying in SA [South African] A science in global cryptography.

Touted as South Africa’s first proof-of-work cryptocurrency to be listed on a global trading platform, safcoin is said to be traded on Hotbit and Chainex.

Blockchain-enabled opportunities

Meanwhile, Maurice Crespi, partner at Schindlers Attorneys and CEO of VNB, was quoted in the statement promoting the two companies’ participation in the successful non-fungible token (NFT) auction for the arrest warrant of former South African President Nelson Mandela.

“The sale gave a glimpse into the possibilities offered by the digital world through virtualization. The opportunities offered by blockchain and its applications are no longer limited to finance. The use of blockchain – and specifically smart contracts – can be applied across various industries, including uplifting society,” Crespi explained. and business efficiency.

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Terence Zimoara

Terence Zimoara is a Zimbabwean award-winning journalist, author and writer. He has written extensively about the economic problems of some African countries as well as how digital currencies can provide Africans with an escape route.














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