• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Bitcoin Price Makes History By Crossing $126,000: Options Market Forecasts Next Price Targets
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Bitcoin Price Makes History By Crossing $126,000: Options Market Forecasts Next Price Targets
cannabis stablecoin

Billionaire to Launch First Ever Cannabis-Pegged Stablecoin

Anja van Oosterhout
by Anja van Oosterhout
6 years ago
·
Posted in News, Altcoin News, Altcoins, Bitcoin Technology, News teaser
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Greek billionaire Alkiviades David has reportedly created the world’s first stablecoin pegged to the price of legal cannabis.


Swissx Bank of Cannabis Issues SWX Stablecoin

As a press release confirmed July 25, the so-called Swissx Bank of Cannabis (SBC), headquartered in the Swiss city of Gstaad, aims to provide the legal cannabis industry with a secondary market. 

The release comes in tandem with the Swissx Global Hemp Exchange, a trade forum which will aid the project’s expansion internationally. 

As part of the release, a dedicated token, SWX Coin, will launch. Allegedly backed by hemp seeds worth $750 million and 250 million Swiss francs ($252 million), creators claim it is the first such stablecoin pegged to cannabis-related markets.

“…We’ve used Swiss financial know-how to create the first bank and cryptocurrency entirely optimized for the legal cannabis industry,” David, who is a co-owner of a Coca Cola bottling empire, commented in the press release. 

“The Swissx Global Exchange will be an authoritative resource for the entire industry… Together, the Bank and Currency and Exchange don’t just insure Swissx’s international operations run perfectly, it will become the engine for the fastest growing business sector in the world.”

That sector will be worth $24 billion in the US alone by 2023, Swissx says. 

Modi Swapping Bhang Lassis For Stablecoins?

In Switzerland, cannabis consumption remains illegal, except for low-grade preparations of under 1% THC. While not powerful enough for a trip, since their legalization in 2011 the products have generated huge tax revenues, totalling over 15 million Swiss francs ($15.22 million) in 2018. 

Swissx Bank of Cannabis further announced a new addition to its board in the form of Denzil Douglas, former prime minister of crypto-friendly St. Kitts & Nevis. 

A more curious namedrop is India’s president Narendra Modi, whom Swissx describes as a partner of David’s other companies, which in turn are “supporting” the initiative. 

As Bitcoinist reported, cryptocurrency projects have long been feeding the expanding legal cannabis industry. At the same time, other moves have included a Hong Kong-based blockchain investment firm diversifying its crypto portfolio by moving into the cannabis arena. 

“Both blockchain and industrial cannabis are the future, and both are embraced by the younger generation,” Yao Yongjie, co-chairman of Grandshores Technology, commented about the decision in May this year. 

Bitcoin’s 2019 bull run has nonetheless left some investors high and dry, Bitcoinist noted last month, sporting considerably better returns in recent times. 

What do you think about a cannabis-pegged stablecoin? Let us know in the comments below!


Images via Shuterstock

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Anja van Oosterhout

Anja van Oosterhout

Follow

Full Profile

Related Posts

Биткоин

Биткоин сохраняет импульс — рынок не перегрет

17 hours ago
Trump's World Liberty kiest Aptos in 2025 - de beste crypto investering 2025?

Trump’s World Liberty kiest Aptos in 2025 – de beste crypto investering 2025?

17 hours ago
BitMine dokłada 104 mln USD w ETH

BitMine dokłada 104 mln USD w ETH do skarbca. Fundstrat widzi Ethereum po 5,5 tys. USD

18 hours ago
Labākie altkoini, kurus var iegādāties tagad: analītiķi norāda, ka šī kriptovalūtas iepriekšpārdošana vadīs kāpumu

Labākie altkoini, kurus var iegādāties tagad: analītiķi norāda, ka šī kriptovalūtas iepriekšpārdošana vadīs kāpumu

18 hours ago
XRP en octobre : tendance, niveaux techniques et trajectoires possibles

Quelle trajectoire pour le cours du XRP en octobre ?

19 hours ago
XRP Price

Can XRP Replicate The BNB Price Rise To $1,300 ATH? Analyst Shows The Odds

20 hours ago
Please login to join discussion

Premium Sponsors

Press Releases

  • BNB

    ChatGPT предвижда BNB да достигне $2,500...

    22 hours ago
  • Maxi Doge นักสู้เหรียญมีมยืนโพสท่าในสังเวียนมวย

    Binance-Peg DOGE นำโด่ง Top 11...

    2 days ago
  • Find Out Why Whales are Rushing to Buy Bitcoin Hyper’s $22M Presale—Plus, Our $HYPER Price Prediction.

    Find Out Why Whales are Rushing to Buy Bitcoin Hyper’s...

    2 days ago
  • ...

    3 days ago
  • Your Chance to Win Up to 10% Deposit Bonus and Up to 21K $USDT Bonus Prizes at KCEX

    Your Chance to Win Up to 10% Deposit Bonus and Up to 21K...

    3 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.