The company Web3 Virtual Nation Builders has just acquired FHM, the parent company of Safcoin (SAF). The latter is known to be the first crypto founded in South Africa. The deal comes just days after the token was listed on HotBit. All this assumes an obvious dynamism of the crypto market in Africa. But also and above all, this merger will allow Safcoin to revise its ambitions upwards.
Safcoin (SAF), a crypto that wants to revolutionize the Web
Virtual Nation Builders (VBN), a Johannesburg-based Web3 company, has just announced the acquisition of FHM. This is another South African company, founder of the crypto Safcoin (SAF). Together, the two companies aim to support the needs of their customers in the Web3 revolution.
Neil Ferreira, co-founder and CEO of FHM, would have been particularly seduced by the profile of its buyer. VNB indeed combines legal expertise and blockchain technology, the law firm Schindlers Attorneys being a shareholder of the company.
Ferreira says, “The merger comes at an important time in the evolution of the blockchain and crypto industry. There is a growing demand for legal expertise in crypto, an increase in litigation involving crypto assets, and developments in the regulation of digital assets.”
Work on social and community development
“By harnessing the power of blockchain technology and connecting it to real communities, we can facilitate socio-economic development and lift millions of people out of poverty.” VBN is built on this belief.
Together, FHM and Virtual Nation Builders aim to expand blockchain use cases far beyond the financial market. Their ambition is particularly oriented towards socio-economic development, facilitated by the power of the blockchain and virtualization.
The merger of the two companies will also allow Safcoin (SAF) to expand its reach internationally. This, thanks to a larger network of exchanges. A deployment that has already been initiated by the listing of crypto on HotBit (one of the largest exchanges in the world), a few days ago.
Safcoin (SAF) hopes to become a globally accepted form of payment. This would give a boost to African trade. And this, in addition to facilitating cross-border transactions. Beyond that, with VNB, FHM wants to redefine the usefulness of cryptos which could become a tool for socio-economic development.
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