The team behind Swissx, a cannabis and CBD company with products endorsed by celebrities such as Mike Tyson and Snoop Dogg, has launched the Swissx Bank of Cannabis to facilitate legal cannabis transactions worldwide via the SWX Coin. SWX Coin, a cryptocurrency based on Bitcoin’s blockchain, is pegged directly to the median global price of premium hemp flower, as determined by the The Swissx Global Hemp Exchange. Swissx also announced that former Prime Minister of St. Kitts-Nevis Denzil Douglas has joined the Swissx Bank of Cannabis board.
“First we changed the game for CBD products, then we created tremendous opportunity for farmers and their regional economies throughout the Caribbean,” said Alki David, CEO and Founder of Swissx. “Now we’ve used Swiss financial know-how to create the first bank and cryptocurrency entirely optimized for the legal cannabis industry. The Swissx Global Exchange will be an authoritative resource for the entire industry.”
Cannabis farmers are paid in SWX Coin from the currencies wallet, the Farmer’s Wallet, which is redeemable for cash anytime, without restriction.
Swissx has recently developed an international cooperative farming operation, with acres already planted in California and Puerto Rico, and 5000 more acres under contract across the Caribbean. The international cooperative was set up to keep up with the demand for Swissx Hemp Flower products, and provides proprietary hemp strains, training, and a guarantee to purchase all crops grown by its participating farmers.
Swissx CBD products are distributed globally in premium health food stores, doctors offices, and in mass market outlets such as 7-11 convenience stores. The products have also been endorsed by Lil Wayne, Scott Disick, of Keeping up with the Kardashians, Dave Navarro of the Red Hot Chili Peppers, Chief Keef, Tommy Chong of Cheech and Chong, Donatella Versace, Jonathan Rhys Myers, and many more.