Greek billionaire Alkiviades David has launched a cannabis bank and cryptocurrency. The Coca-Cola heir and his Swiss-based consortium are behind the Swissx Bank of Cannabis.
The bank also operates SWX Coin, a cryptocurrency pegged to the price of premium hemp flower.
The Swissx Global Hemp Exchange also will provide the industry with a secondary market where futures and other trades can be made based on its global market analytics.
Initially, the bank and its coin will manage all of Swissx’s financial transactions with its many partners in the United States, Europe and the Caribbean, but the bank is also a turn-key solution for the entire cannabis sector, providing a secure, transparent venue for all transactions, and a coin tied to a commodity. The CBD-hemp business is expected to reach $24 billion in the United States alone by 2023.
To read the full release, click here.
