Fintech
Cantourage kick-starts business in growing UK medical cannabis market with award of pharmaceutical licences and CQC registration to prescribe to patients
European medical cannabis company Cantourage has received two British government licences that authorise the company to import medical cannabis into the UK. The company has also received the required regulatory registration to prescribe medical cannabis products to clients via a new facility, Cantourage Clinic.
The company’s subsidiary Cantourage UK, formed in January 2021, has now been awarded a WDA(H) (Wholesaler Dealer’s Authorisation) licence from Britain’s Medicines and Healthcare products Regulatory Agency (MHRA). The licence allows Cantourage UK to import and distribute medicinal products for human use. Cantourage UK was awarded the licence on 10th December 2021 following inspection by the MHRA, an executive agency of the Department of Health and Social Care (DHSC).
Cantourage UK is now also in receipt of the necessary narcotics licence from the Home Office to handle cannabis-based products for medicinal use, under the Misuse of Drugs Regulations 2001.
Tele-healthcare clinic launches today
In addition, Cantourage UK received regulatory registration for “Cantourage Clinic“, a private tele-healthcare clinic specialised in medical cannabis. The registration by the Care Quality Commission (CQC), a non-departmental public body of DHSC and independent regulator of all healthcare services in England, will allow Cantourage UK to provide patients and prescribers with an alternative to the existing UK medical cannabis clinics.
The clinic’s first product arrived in the UK this week. Manufactured and processed in Germany, the high-THC medical cannabis product is now available for prescription to patients via Cantourage Clinic.
Increasing the availability and range of medical cannabis products in the UK
These three licences position Cantourage in the UK medicinal cannabis market, which is forecast to reach approximately US $1.3 billion with almost 400,000 patients by 2024[1].
They enable London-based Cantourage UK to import all of its EU Good Manufacturing Practice (GMP)-certified products[2] from the Cantourage facility in Germany into the UK and prescribe to patients. This includes the full range of dried flower and extract products, significantly increasing the availability and range of medical cannabis products available to patients throughout the UK and Channel Islands.
Cantourage’s extensive global network of partner producers via the fast-track access platform, will enable the company to address UK supply issues, importing and distributing medical cannabis products into the UK from as far afield as Uganda, Jamaica and Canada. Cantourage’s products are all treated with a unique microbiological reduction process that reduces the products’ contaminants without the use of irradiation. This ensures that the profile of the terpenes, the aromatic compound that creates the characteristic scent of many plants, stays intact.
Gabriel Newman, CEO of Cantourage UK, said: “We have been working closely with Cantourage for two years, collating what we feel to be the best producers of medical cannabis from around the world. Last year, we formed a formal joint venture with Cantourage and helped to launch the ‘Fast Track Access’ platform, built to give patients and prescribers in Europe a wider array of medicines to help treat eligible illnesses.”
“The UK experienced promising growth in terms of patient numbers and prescriptions over the course of 2021 and we believe we will be a catalyst for further growth. We aim to instil patients with confidence in supply consistency of high quality CBPMs, launching Cantourage manufactured, non-irradiated cannabis supply chains into the market. Our strategy in the UK has been built to improve patient access and care; we are committed to paving the way for more patients to reliably access medical cannabis safely and securely. As of today, patients will be able to directly access our unique portfolio of products via our patient-centric CQC-registered clinic.”
Philip Schetter, CEO of Cantourage GmbH, said: “We are delighted to have formed Cantourage UK and received the necessary pharmaceutical licences to import medical cannabis products into the UK and supply patients there with high-quality products from all over the world. Given the high levels of demand we are witnessing in the UK, we are confident that this year will see significant growth and we are looking forward to a number of exciting milestones. We are grateful to our team in London for the excellent contribution they have made so far in what is one of Europe’s most promising cannabis markets.”
Cantourage UK believes consistency of supply of quality cannabis flowers to be a key challenge in Britain, which the company intends to focus on tackling in 2022, following the grant of the two pharmaceutical licences and clinic registration.
Cantourage UK was formed on 20th January 2021, as a joint venture between Berlin-based European medical cannabis leader Cantourage GmbH and NICE Partners, a London-based cannabis company that specialises in developing strategic alliances, supply relationships, business development and compliance in the European cannabis market.
Fintech
Fintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA)
As we close out 2024, the fintech industry continues to deliver headlines that underscore its dynamism and innovation. From IPO aspirations to groundbreaking regulatory milestones, today’s updates highlight the transformative power of fintech partnerships, regulatory evolution, and disruptive technologies. Here’s what you need to know.
Chime’s Quiet Step Toward Public Markets
Chime, the U.S.-based financial technology startup best known for its digital banking services, has taken a significant step by filing confidential paperwork for an initial public offering (IPO). As one of the most valuable private fintechs in the U.S., Chime’s move could potentially signal a renewed appetite for fintech IPOs in a market that has been cautious following fluctuating valuations across the tech sector.
With a valuation that reportedly exceeded $25 billion in its last funding round, Chime’s IPO could set a new benchmark for the industry. Observers note that its strong customer base and revenue growth may make it an appealing choice for investors seeking to capitalize on the digital banking boom. However, the timing and success of the IPO will depend on broader market conditions and the regulatory landscape.
Source: Bloomberg
ZBD’s Pioneering Achievement: EU MiCA License Approval
ZBD, a fintech company specializing in Bitcoin Lightning network solutions, has made history by becoming the first to secure an EU MiCA (Markets in Crypto-Assets Regulation) license. This landmark approval by the Dutch regulator positions ZBD at the forefront of compliant crypto-fintech operations in Europe.
MiCA, which aims to harmonize the regulatory framework for crypto-assets across the EU, has been a focal point for industry players aiming to establish legitimacy and expand their offerings. ZBD’s achievement not only validates its operational rigor but also sets a precedent for other fintech firms navigating the evolving regulatory landscape.
Industry insiders view this as a strategic advantage for ZBD as it broadens its footprint in Europe. By leveraging its regulatory approval, the company can accelerate its product deployment and establish trust with institutional and retail users alike.
Source: Coindesk, PR Newswire
The Fintech-Credit Union Synergy: A Blueprint for Innovation
The convergence of fintechs and credit unions continues to reshape the financial services ecosystem. Collaborative initiatives, such as the one highlighted in the recent partnership between fintech innovators and credit unions, are proving to be a potent force in delivering tailored financial solutions.
This “dream team” approach allows credit unions to leverage fintech’s technological expertise while maintaining their community-focused ethos. Key areas of collaboration include digital payments, personalized financial management tools, and enhanced loan processing capabilities. These partnerships not only enhance member engagement but also enable credit unions to remain competitive in an increasingly digital-first financial environment.
Industry analysts emphasize that such collaborations underscore a broader trend of traditional financial institutions embracing fintech-driven solutions to bridge service gaps and foster innovation.
Source: PYMNTS
Tackling Student Loan Debt: A Fintech’s Mission
Student loan debt remains a pressing issue for millions of Americans, and a Rochester-based fintech aims to offer relief through its cloud-based platform. This innovative solution is designed to simplify loan management and provide borrowers with actionable insights to reduce their debt burden.
The platform’s features include repayment optimization tools, personalized financial education, and seamless integration with loan servicers. By addressing the complexities of student loan management, this fintech is empowering borrowers to make informed decisions and achieve financial stability.
As the student loan crisis continues to evolve, solutions like this highlight the critical role fintech can play in addressing systemic financial challenges while fostering financial literacy and inclusion.
Source: RBJ
Industry Implications and Takeaways
Today’s updates underscore several key themes shaping the fintech landscape:
- Regulatory Milestones: ZBD’s MiCA license approval exemplifies the importance of regulatory compliance in unlocking growth opportunities.
- Strategic Partnerships: The collaboration between fintechs and credit unions demonstrates the value of combining technological innovation with traditional financial models to drive customer-centric solutions.
- Market Opportunities: Chime’s IPO move reflects a potential revival in fintech public offerings, signaling confidence in the sector’s long-term prospects.
- Social Impact: Fintech’s ability to tackle systemic issues, such as student loan debt, showcases its role as a force for positive change.
The post Fintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA) appeared first on News, Events, Advertising Options.
Fintech
SPAYZ.io prepares for iFX EXPO Dubai 2025
Leading global payments platform SPAYZ.io has confirmed it will be attending iFX EXPO Dubai 2025 on 14 to 16 January. Exhibiting at Stand 64 at Trade Centre Dubai, SPAYZ.io’s team of professionals will be on hand providing live demonstrations of its renowned payment services for payment providers. Attendees will also receive exclusive insight into SPAYZ.io’s plans for 2025 alongside early early access to its upcoming plans for the new year.
SPAYZ.io delivers a host of payment solutions that leverage the latest technological innovations and open access to the fastest growing emerging markets across Africa, Europe and Asia. Over the past year, there has been huge demand for its Open Banking and local payment method services, alongside bank transfers, mass payouts, online banking and e-wallets.
Yana Thakurta, Head of Business Development at SPAYZ.io commented: “We look forward to once again participating at iFX Dubai to expand our network of partners and clients. It’s a fantastic way to kick off the year, connecting with thousands of industry leaders from FOREX platforms to trading companies, and everything in between.
“Our key goal for iFX Dubai EXPO 2025 is to expand our portfolio of solutions and geographies. We’re using this as an opportunity to partner with like-minded entities who share our ambition to provide payment solutions that are truly global.”
Come meet SPAYZ.io’s team at the Trade Centre Dubai at Stand 64. You can also book a meeting slot with a member of a team.
The post SPAYZ.io prepares for iFX EXPO Dubai 2025 appeared first on News, Events, Advertising Options.
Fintech
Airtm Enhances Its Board of Directors with Two Strategic Appointments
Airtm, the most connected digital dollar account in the world, is proud to announce the addition of two distinguished industry leaders to its Board of Directors: Rafael de la Vega, Global SVP of Partnerships at Auctane, and Shivani Siroya, CEO & Founder of Tala. These appointments reflect Airtm’s commitment to innovation and financial inclusion as the company enters its next phase of growth.
“We are thrilled to welcome Rafael and Shivani to Airtm’s Board of Directors,” said Ruben Galindo Steckel, Co-founder and CEO of Airtm. “Their unique perspectives and proven track records will be invaluable as we continue scaling our platform to empower individuals and businesses in emerging markets. Together, we’ll push the boundaries of financial inclusion and innovation to create a more connected and equitable global economy. Rafael and Shivani bring a wealth of experience and strategic insight that will strengthen Airtm’s mission to connect emerging economies with the global market.”
Rafael de la Vega, a seasoned leader in fintech global partnerships and technology innovation, is currently the Global SVP of Partnerships at Auctane. With a proven track record of delivering scalable, impactful solutions at the intersection of fintech, innovation, and commerce, Rafael’s expertise will be pivotal as Airtm continues to grow. “Airtm has built a platform that breaks down barriers and opens up opportunities for people in emerging economies to connect to global markets. I am excited to contribute to its growth and help further its mission of fostering financial inclusion on a global scale,” said Rafael.
Shivani Siroya, CEO and Founder of Tala, is a pioneer in financial technology, renowned for empowering underserved communities through access to credit and essential financial tools. Her leadership in leveraging data-driven innovation aligns seamlessly with Airtm’s vision of creating more equitable financial opportunities. “Empowering underserved communities has always been at the core of my work, and Airtm’s mission resonates deeply with me. I’m thrilled to join the Board and work alongside such a dynamic team to expand access to financial tools that truly make a difference in people’s lives,” said Shivani.
The post Airtm Enhances Its Board of Directors with Two Strategic Appointments appeared first on News, Events, Advertising Options.
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