Greek Billionaire Launches Swissx Cryptocurrenct and Global Hemp Exchange | BTCMANAGER
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Alikiviades David, a Greek billionaire heir and his Swiss-based consortium have launched the Swissx Bank of Cannabis and SWX Coin. The Swissx Global Hemp Exchange will provide the entire marijuana industry with a secondary market for futures and other trades based on its market analytics while SWX Coin will function as the native altcoin of the platform, according to a press release on July 25, 2019.
Swissx to Revolutionize the Hemp Industry
In a bid to provide the entire hemp industry with a secondary market for futures trading and other financial activities, Alki David has launched The Swiss Bank of Cannabis in collaboration with his Swiss-based Consortium.
As stated in its press release, the Gstaad-based Swissx Bank of Cannabis will be in charge of the SWX Coin, a cryptoasset built upon the Bitcoin blockchain. The team says the SWX Coin has a single unit pricing system pegged directly to the median global price of hemp flower.
Reportedly, the Swissx Bank of Cannabis alongside partners in the U.S., Europe, and the Caribbean will initially be responsible for managing all Swissx’s financial transactions.
The team hopes the bank will also function as a turn-key platform for the global Cannabis ecosystem, providing the sector with a secure venue and a coin for all transactions.
Swissx Bank Worth $1 Billion
Per the team, the Cannabidiol (CBD) hemp business in the United States is expected to reach $24 billion by 2023.