An online trading platform for cannabis products launched in Europe on Wednesday with the aim to promote “seed-to-shelf” quality and transparency.
The CBX Stock Exchange (CBX) is based in Geneva, Switzerland and was founded by a former banker and Cannabidiol (CBD) manufacturer.
An earlier version of the platform has been active since 2019 and already claims around 4,000 members from over 80 countries.
How does it work?
CBX is an online marketplace for buyers and sellers of cannabis products whose safety and quality are certified by a third party, an independent laboratory in Switzerland.
It connects cannabis producers with a range of industries from wellness to beauty, offering trading in cannabis flowers, hemp biomass, distillates and isolates, and tinctures.
CBX says it consulted with the Swiss Health Authority to establish “market-leading standards” and partnered with a Swiss-accredited lab specialising in the analysis of cannabis derivatives to certify the quality of goods traded on the platform.
“Europe has a reputation for protecting its citizens, but when it comes to cannabis, it’s lagging behind,” CBX co-founder and CEO Jonas Duclos said in a statement.
“The industry has been operating blindly for too long without the necessary infrastructure, quality controls and assurances in place and this needs to change”.
