Select cannabis commodities on the CanXchange hemp trading platform are listed on HempToday beginning today under an exclusive arrangement between the London-based exchange and Naklo Foundation of Poland, HempToday’s parent organization.
CanXchange will list five products with current prices each week on HempToday. Qualified buyers can register with CanXchange to get platform access to make purchases. Current listings include hemp-derived distillates, crystal, isolate, hemp biomass, oil and seeds.
CanXchange aims to connect dependable farmers, producers and extractors with a wide range of industries on the buying side through a range of intermediate services and tools that assure those on both ends of the transaction are trustworthy. The company’s proprietary payment solution was designed to overcome a chronic barrier to the industry by providing transactional certainty and ease for users of the platform.
“This is part of our effort to create a stronger network, and a more transparent marketplace,” said Alex Arkentis, CanXchange CEO and co-founder. “We look forward to working closely with HempToday’s team to add value and address certain critical needs of the industry.”
CanXchange has integrated a number of tools through Thomson Reuter’s Refinitiv service that supports due diligence investigations critical in fighting financial crimes and corruption. The service scans worldwide public and private databases to identify security issues.
Once vetted, buyers and sellers can access the platform to interact anonymously until a transaction is completed. Buyers must deposit the full amount of the transaction value with CanXchange towards any purchases; both buyers and sellers are charged negotiated commissions.
To ensure quality, CanXchange is using a laboratory affiliated with the Prague-based University of Chemistry & Technology to analyze goods offered on the platform. Samples may also be ordered by purchasers, who have time to check the goods after receiving full shipments. Funds to the seller are released by CanXchange only after the purchaser’s approval.
“We’re particularly interested in working with CanXchange because of their approach to security and their unique position in the marketplace,” said Kehrt Reyher, editor and publisher at HempToday.