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

In a statement, VNB said that the combined businesses aim to champion and support their clients’ digital needs in the Web3 revolution.

Neil Ferreira, co-founder, and CEO of FHM commented saying, “At FHM and Safcoin, we share VNB’s belief that by harnessing the power of blockchain technology and connecting it to real communities, we can facilitate socio-economic development. This is enabled by the full transparency, autonomy, verifiability, incorruptibility, and trust made possible through blockchain technology.”

“The merger comes at an important time in the evolution of the blockchain and crypto industry. There’s increasing demand for legal crypto expertise, a rise in litigation involving crypto assets, and developments in the regulation of digital assets. Our advanced and integrated understanding of the tech, law and crypto industries will enable us to extend the benefits of blockchain technology to new industries and applications, starting with social and community development,” he added.

According to the statement, as a result 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.

Maurice Crespi, a partner at Schindlers Attorneys and the CEO of VNB, is also quoted touting the two’s companies’ involvement in the successful auction 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 virtualization. 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 explained.

Ferreira concluded by saying, “Together with VNB, we plan to extend our global reach with more international exchange partner listings. We had good support from the international crypto market with our first listing, and we are proud to be flying the SA flag into the global crypto sphere.”

Safcoin is also reportedly traded on Hotbit and Chainex.