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Legal Barriers Falling for the Cannabis Market’s Rampant Growth

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The cannabis market has begun to garner worldwide attention as more countries move to adopt cannabis legislation. Primarily, most countries are looking to adopt medical cannabis laws. Countries that have adopted medical legislation are leveraging cannabis to treat certain medical applications such as cancer, chronic pain, epilepsy, Alzheimer’s, and Parkinson’s disease. Throughout the past year, the cannabis industry has made significant milestones as the U.S. Food and Drug Administration approved its first cannabis-derived drug to treat epilepsy in children. Shortly after, the U.S. Drug Enforcement Agency removed CBD, or cannabidiol, off the Schedule 1 list. CBD-based products that have less than 0.1% THC concentrate will now be considered a Schedule 5 drug, as long as the medication has been approved by the FDA. Furthermore, the FDA recently scheduled a public hearing to be held in May as the agency looks to legalize CBD in food and drinks. The combination of these events has led to the exponential growth of the overall cannabis market. Moreover, as legalization efforts continue, other countries are expected to be influenced and potentially follow in legalizing cannabis. According to data compiled by Grand View Research, the global legal marijuana market was valued at USD 9.3 Billion and is expected to reach USD 146.4 Billion by the end of 2025. Additionally, the market is projected to register a CAGR of 34.6%. CLS Holdings, USA Inc. (OTC: CLSH) (CSE: CLSH.U), Charlotte’s Web Holdings, Inc. (OTC: CWBHF) (CSE: CWEB), Cresco Labs Inc. (OTC: CRLBF) (CSE: CL), Zynerba Pharmaceuticals, Inc. (NASDAQ: ZYNE), Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (TSX: NEPT)

Research and studies conducted within the cannabis industry have helped in adding credibility to the plant. However, the FDA ruled that due to the lack of large-scale and efficient clinical trials, the agency cannot approve cannabis as a registered treatment, yet. Now, researchers and companies involved within the industry are expanding their studies to help expand the cannabis market further. The FDA’s concern over cannabis becoming a legitimate medicine alternative signals the steps the market has taken. Decades ago, cannabis was internationally illegal. Now, countries including AustraliaCanadaColumbiaGermanythe NetherlandsSpain, and the U.S. have all adopted cannabis legislation of some form. Moving forward, as more governments and regulatory agencies focus on the topic of cannabis legalization, the cannabis industry can become the next emerging global market. “It’s critical that we address these unanswered questions about CBD and other cannabis and cannabis-derived products to help inform the FDA’s regulatory oversight of these products — especially as the agency considers whether it could be appropriate to exercise its authority to allow the use of CBD in dietary supplements and other foods,” outgoing FDA Commissioner Scott Gottlieb recently said in a statement.

CLS Holdings, USA Inc. (OTCQB: CLSH) (CSE: CLSH.U) is also listed on the Canadian Securities Exchange under the ticker (CSE: CLSH.U). Earlier last week, the Company announced that, “since acquiring Oasis Cannabis Dispensary in Las Vegas, Nevada, CLS Holdings USA, Inc. (OTCQB: CLSH) (CSE: CLSH.U) has been working to elevate the entire customer experience behind cannabis. The catchphrase “New Oasis, Same Faces” assures customers that they will still receive the same care and attention they’ve come to expect from Oasis Cannabis, only now in a totally redesigned, modern, and fresh facility. The new space is more accessible, inviting and vibrant, with the same friendly and knowledgeable staff. Over the past few months, walls have been torn down and the color scheme have been modernized from lime green to bright white with blue accents, evoking a vibrant and calming feel. LED lit display cases are purposefully and openly situated, allowing customers ample room to explore products. The large white bud bar hosts the budtender, who is able to curate a better user experience through education and a diverse product selection. At the heart of the renovation is improving customer experience – but the company’s dedication to education, compassionate care, and community enrichment remain the same.

All are welcome to join the Oasis Cannabis Grand Reopening Party, which will take place at the dispensary on Saturday April 6th 2019 from 12:00pm – 10:00pm. The event will feature vendors on-site, live art, live music, food trucks, and special prices. The dispensary is located at 1800 Industrial Rd #180, Las Vegas, NV 89102.

About Oasis Cannabis: Oasis Cannabis has operated a cannabis dispensary in the Las Vegas market since dispensaries first opened in Nevada in 2015 and has been recognized as one of the top marijuana retailers in the state. Its location within walking distance to the Las Vegas Strip and Downtown Las Vegas in combination with its delivery service to residents allows it to efficiently serve both locals and tourists in the Las Vegas area. In February 2019, it was named “Best Dispensary for Pot Pros” by Desert Companion Magazine.

In August 2017, the company commenced wholesale offerings of cannabis in Nevada with the launch of its City Trees brand of cannabis concentrates and cannabis-infused products. http://oasiscannabis.com

About City Trees: Founded in 2017, City Trees is a Nevada based cannabis cultivation, production and distribution company. Offering a wide variety of products with consistent results, City Trees is one the fastest growing wholesale companies in the industry. Its products are now available at 40 dispensaries. https://citytrees.com

About CLS Holdings USA, Inc: CLS Holdings USA, Inc. (OTCQB:CLSH) (CSE:CLSH),  is a diversified cannabis company that acts as an integrated cannabis producer and retailer through its Oasis Cannabis subsidiaries in Nevada, and plans to expand to other states. CLS stands for “Cannabis Life Sciences,” in recognition of the Company’s patented proprietary method of extracting various cannabinoids from the marijuana plant and converting them into products with a higher level of quality and consistency. The Company’s business model includes licensing operations, processing operations, processing facilities, sale of products, brand creation and consulting services.”

For our latest “Buzz on the Street” Show featuring CLS Holdings, USA Inc. recent corporate news, please head over to:

 

Charlotte’s Web Holdings, Inc. (OTCQX: CWBHF) (CSE: CWEB) is the market leader in the production and distribution of innovative hemp-based cannabidiol wellness products. Recently, Charlotte’s Web Holdings, Inc. surpassed 3,000 retail locations across the United States. At the end of 2017, Charlotte’s Web products were sold in approximately 2,000 locations. The Company had recently that it surpassed its 2018 year-end goal of 3,000 locations during the 3rd quarter. With CBD gaining mainstream market momentum, Charlotte’s Web, the industry pioneer and category leader in hemp-based CBD, has expanded its suite of product offerings across a wider variety of retailers, from small specialty health food stores to now including regional pharmacy and grocery chains. “Firstly, I would like to commend our incredible and committed staff who worked tirelessly to achieve this milestone,” stated Charlotte’s Web Chief Executive Officer Hess Moallem. “I would also like to thank our dedicated retail partners for their continued support of our mission and for valuing the trust that is closely associated with our brand name.”

Cresco Labs Inc. (OTCQX: CRLBF) (CSE: CL) and CannaRoyalty Corp. d/b/a Origin House (CSE: OH) (OTCQX: ORHOF) recently announced that they have entered into a definitive agreement, pursuant to which Cresco Labs will acquire all of the issued and outstanding shares of Origin House. Under the terms of the Agreement, holders of common shares of Origin House will receive 0.8428 subordinate voting shares of Cresco Labs for each Origin House Share. Origin House has become a leading distributor and provider of brand support services in California, the world’s largest regulated cannabis market. Origin House’s proven strategy has been to build relationships with established dispensaries, build partnerships with established market-leading brands, develop promising cannabis product companies, and then leverage its full suite of support services to transform those products into strong California consumer brands. Origin House delivers over 50+ cannabis brands to more than 500 dispensaries in California, representing approximately 60% market penetration. “The acquisition of Origin House is another example of our focused and disciplined approach to creating a meaningful presence in key cannabis markets through excellence in brand development and distribution,” said Cresco Labs Chief Executive Officer and Co-founder Charlie Bachtell.

Zynerba Pharmaceuticals, Inc. (NASDAQ: ZYNE) is the leader in pharmaceutically-produced transdermal cannabinoid therapies for rare and near-rare neuropsychiatric disorders. Zynerba Pharmaceuticals, Inc. recently announced that it has initiated the Phase 2 BRIGHT (An Open-Label Tolerability and Efficacy Study of ZYN002 Administered as a Transdermal Gel to Children and Adolescents with Autism Spectrum Disorder) trial. The trial will assess the safety, tolerability and efficacy of Zygel (previously referred to as ZYN002) for the treatment of child and adolescent patients with Autism Spectrum Disorder (ASD). The Company expects to present topline data from this study in the first half of 2020. Clinical and anecdotal data suggest that CBD may modulate the EC system and improve certain core social and behavioral autism-related symptoms, including social avoidance and anxiety. “Autism spectrum disorder can have a devastating impact on a child and their family,” said Armando Anido, Chairman and Chief Executive Officer of Zynerba. “The medical need is significant and unmet despite high awareness and advocacy efforts. Though there has been an accelerating rate of diagnosis, to date there are only two FDA approved products indicated for the treatment of ASD symptoms.”

Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (TSX: NEPT) specializes in the extraction, purification and formulation of health and wellness products. Neptune Wellness Solutions Inc. recently announced that it had completed its initial commercial production lots and is now shipping cannabis extracts from its licensed, GPP facility in Sherbrooke, Quebec. “The quality of the extracts in Neptune’s first production runs at our state-of-the-art facility has been terrific, and we are proud to begin deliveries. This marks an important step forward in the execution of our vision to lever our decades of extraction and wellness industry experience towards becoming the world’s leader in the extraction, purification and formulation of value-added, differentiated cannabis products,” said Jim Hamilton, President and Chief Executive Officer of Neptune.

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SOURCE FinancialBuzz.com

Fintech

Hyperledger-based token Metacoin to list on its first global cryptocurrency exchange, Liquid

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Global cryptocurrency platform Liquid.com (“Liquid”) will be listing Metacoin (MTC), the world’s first Hyperledger-based token, for secondary trading.

Metacoin is a project focused on expanding the blockchain ecosystem by solving fundamental issues that the traditional cryptocurrency has yet to overcome such as scalability and security. Released as a mainnet platform in 2018 as the first commercialised mainnet based on the Linux Foundation’s Hyperledger Fabric, Metacoin currently boasts several key projects such as:

Several notable Dapps are also currently being built on the Metacoin platform such as:

  • Play bits (https://playbits.io/), a powerful blockchain gaming platform,
  • Coldbank (https://www.coldbank.io), a custodian service that aims to provide a high level of security on IBM’s LinuxONE
  • Autosdaq (https://autosdaq.com/) an exchange that seeks to create an ecosystem where mobility-related products and services can be used with cryptocurrency.

Jay Baek, V.P. of INBLOCK said, “We’re excited about the listing of Metacoin on Liquid. As one of the largest, most secure and reputable exchanges globally, Liquid will offer best-in-class security to anyone looking to trade and hold MTC. More importantly, being listed on a major exchange is aligned with our mission of creating new value through collaborations with other companies and business support.”

Metacoin aims to solve two fundamental issues in blockchain technology — scalability and security — by implementing its node into LinuxONE. By doing so, Metacoin is not only able to further secure and protect users’ data but handle millions of transactions per second in a safe and secure manner.

“We are delighted to be the first global cryptocurrency exchange to add Metacoin to our offering of digital assets on Liquid, and also be the first exchange to be able to support projects built on Hyperledger,” said Mike Kayamori, CEO and co-founder of Liquid. “The ability to support Hyperledger-based projects is certainly an important step towards our mission of providing liquidity to the crypto economy.”

Hyperledger is an open source collaborative effort created to advance cross-industry blockchain technologies. Hosted by the Linux Foundation, it is a global collaboration that includes leaders in finance, banking, Internet of Things, supply chains, manufacturing and Technology. Hyperledger Fabric currently supports distributed ledger solutions for a wide range of industries and maximises the confidentiality, resilience and flexibility of blockchain solutions through its modular architecture.

To celebrate the listing of Metacoin on Liquid, the Liquid and Metacoin teams have decided to provide a 1% bonus for anyone who deposits more than 1,000 MTC and a 3% bonus for anyone who deposits more than 30,000 MTC on Liquid. Liquid and Metacoin will also host a Trading Competition that rewards 1,000 MTC to the top 100 users in trading volume at the end of the campaign. More details will be shared soon. For the latest updates, follow Liquid on Twitter at @liquid_global

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Inaugural SFF x SWITCH sees over 60,000 participants from 140 countries; event to return on 9-13 November 2020

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The Singapore FinTech Festival (SFF) and the Singapore Week of Innovation and TeCHnology (SWITCH) concluded its combined week-long event on 15 November 2019, which attracted more than 60,000 participants from 140 countries. The event also saw a record 569 speakers, close to 1,000 exhibitors[1] and 41 international pavilions.

SFF x SWITCH will return next year from 9 to 13 November 2020. It will build on the energy, ideas and partnerships established this year, to further strengthen the ecosystem for FinTech and deep tech in Singapore and the region.

Key Announcements

In line with the theme of Sustainability and Climate Change, Minister Ong Ye Kung unveiled the Monetary Authority of Singapore (MAS)’s green finance action plan to strengthen green financing capabilities in Singapore and announced the launch of a US$2 billion Green Investments Programme, among other initiatives under the action plan.

DPM Heng Swee Keat unveiled Singapore’s National Artificial Intelligence (AI) Strategy in his keynote speech, and highlighted a new framework, Veritas, introduced by MAS to promote the responsible adoption of AI in the financial sector. He also announced the expansion of the Global Innovation Alliance (GIA) network to include London, and the launch of the Open Innovation Network (OIN)[2] by Enterprise Singapore and Infocomm Media Development Authority (IMDA) to promote open innovation across sectors.

International Cooperation

Under the GIA, Enterprise Singapore signed a Memorandum of Understanding (MOU) with UK-based accelerator IoT Tribe, to facilitate two-way innovation and business partnerships.

It also inked MOUs with three new partners — DayDayUp (Beijing), Plug and Play Asia Pacific (Jakarta) and Leave a Nest (Tokyo) — to run GIA programmes in their respective markets.

MAS and the Bank for International Settlements (BIS) jointly launched the BIS Innovation Hub Centre in Singapore, to foster innovation and greater collaboration among the central banking community globally. The opening of the BIS Innovation Hub Centre in Singapore marks BIS’ first expansion of its global footprint in 17 years.

MAS also established partnerships with financial authorities in Canada and France, to strengthen cooperation in FinTech[3] and cybersecurity respectively, and welcomed Banque de France (BDF)’s opening of an overseas office in Singapore in early 2020.

Industry Partnerships

SFF x SWITCH 2019 saw new partnerships as well as progress in ongoing initiatives with the industry.

  • Project Ubin[4] Phase 5, a collaboration among MAS, the financial industry, and the blockchain ecosystem, saw the successful development of a blockchain-based prototype that enables payments to be carried out in different currencies on the same network.
  • Business sans Borders (BSB)[5], which was launched by MAS and IMDA in 2018, has successfully completed its Phase One Proof of Concept and will proceed with the Phase Two Pilot in 1H 2020.
  • MAS, Deloitte and S&P Global Market Intelligence have jointly developed a prototype for an industry-wide FinTech Research Platform to help investors and financial institutions connect with FinTech start-ups that they can partner with or invest in.
  • Enterprise Singapore launched the inaugural Sustainability Open Innovation Challenge in partnership with corporates and government agencies to tackle problem statements spanning sustainability themes in resource efficiency, zero waste, green transport and sustainable built environment.
  • As part of efforts towards sustainable growth, the National Research Foundation launched the Singapore Battery Consortium to support industry-academia collaboration in cutting-edge battery technologies, bringing companies and researchers together to develop better battery products that serve market needs.

2019 Event Highlights

SFF x SWITCH celebrated the winning solutions of the Global FinTech HackceleratorFinTech Awards[6] and SLINGSHOT 2019[7] respectively. Following vibrant demo and pitching sessions where FinTech and tech startups presented their solutions to industry panels of judges, three winners emerged from the Global FinTech Hackcelerator, while there were 12 winners each from the FinTech Awards and SLINGSHOT 2019.

SFF x SWITCH concluded the week with the Innovation Lab Crawl and Industry Events (14-15  November), which saw over 20,000 visitors across over 50 innovation labs and more than 30 workshops and networking events held around Singapore. The SFF x SWITCH organising team thanks all our partners and attendees for making this year’s event a big success. We look forward to continued collaboration with the industry to bring about an even more exciting and impactful event next year.

 

SOURCE Monetary Authority of Singapore

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Experian brings world-class technology conference to Singapore with inaugural VISION2020 Asia Pacific

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Experian, the world leader in information services, announced today that the inaugural Asia Pacific edition of its signature Vision Conference will be coming to Singapore next year. VISION2020 Asia Pacific (APAC) will be held at the Ritz Carlton Hotel in Singapore on 5th and 6th February 2020.

For the past 38 years, Experian’s Vision conference in North America has been connecting business leaders to innovative ideas and solutions to help them target new markets, grow their customer bases, and reduce fraud. The event has also hosted world-renowned keynote speakers including Apple’s co-founder, Steve Wozniak, former US president, Bill Clinton, and five-time NBA champion, Kobe Bryant.

Next year, under the theme “Future favours the BOLD – Innovating for tomorrow”, VISION2020 APAC is where leading minds from the banking and fintech industries will converge to examine how companies can navigate the next phase of digital finance and build a BOLD future powered by data, technology, and analytics.

A thought leadership platform dedicated to the most salient business developments, VISION2020 APAC will shine a spotlight on major shifts that are reshaping the region and the significant growth opportunity that lies with the application of data assets today, to enable the provision of better services. Curated sessions on topics such as Fraud and Open Banking — two of the six conference themes — will help business executives gain a better understanding of the new banking paradigm that is ushering in the next phase of consumer finance in Asia Pacific.

The conference will also feature a dedicated space for technology showcase, where attendees can discover the latest solutions from Experian’s X Labs innovation hub. Built to address customer pain points, X Labs is home to some of Experian’s most cutting-edge technologies for Open Banking, Agriculture, Alternative Data Scoring, Predictive Analytics, and more.

Ben Elliott, Chief Executive Officer, Experian Asia Pacific, said: “We are delighted to bring our flagship conference to Asia Pacific, a fast-growing market with access to an amount of data unrivalled in size. VISION2020 APAC will catalyse important conversations around the unprecedented business opportunities offered by the data economy through sessions on Open Data, Autonomous Analytics, and Alternative Data. We look forward to inspiring our customers, partners, and industry luminaries to take on a bold approach as we navigate through these exciting times together as a region.”

Attendees can expect unparalleled networking potential and learning opportunities with a two-day programme featuring expert presentations, technical workshops, innovation showcases, and panel discussions led by the top minds of the industry.

The speaker line-up features some 50 industry experts and leaders including senior representatives from ANZ Bank, Boston Consulting Group, IDC Financial Insights, Open Bank, WeLab and many more. Notable thought leaders such as Alex Manson, Global Head, SC Ventures; Sopnendu Mohanty, Chief Fintech Officer, Monetary Authority of SingaporeSteve Leonard, Founding CEO of SG Innovate; and Malcolm Rodrigues, CEO & co-founder, MyRepublic, will also be speaking at the event.

Sharing the stage with the distinguished guest speakers is Experian’s team of senior global executives including Brian Cassin, Group CEO; Ben Elliott, CEO, Asia PacificAlex Lintner, Group President, Consumer Information Services; and David Britton, Vice President, Industry Solutions, Global Fraud and Identity.

In addition, attendees will also hear from guest speakers including Lewis Hamilton, five-time Formula One world champion, and Sachin Tendulkar, former international cricketer considered as one of the greatest batsmen in sport’s history.

Visit the official VISION2020 APAC website for the latest updates on the conference and use the hashtag #ExperianVision2020APAC to join the conversation on LinkedIn. Register by 30 November to enjoy early-bird rates at USD1,295. This conference is also supported by the Singapore Exhibition & Convention Bureau, a part of Singapore Tourism Board.

 

SOURCE Experian

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