Hemp and medical cannabis trader Canxchange has added a networking service to its commodities-based platform, giving all stakeholders the opportunity to directly engage with the company’s network.
The new tool lets individual users and businesses connect with the entire Canxchange universe through a public chat feature, and gives them instant access to the company’s sales and support team.
Under a limited access “light” version users can network and access data. Full access lets qualified buyers and sellers make trades after they undergo extensive background checks.
The networking tool was developed “through customer input and intentional investment in product development,” said Sigfried Legeay, CFO and co-founder, and signals the company’s goal “to be more inclusive as a technology provider and give all industry stakeholders an access point to the global cannabis market.”
The new service comes on the heels of an upgraded electronic trading system launched by Canxchange in January of this year.
Designed for secure business-to-business hemp and medical cannabis transactions, Canxchange offers a seamless process for sourcing, buying and selling. The company aggregates farmers, processors and producers, giving them a direct interface with a wide range of purchasing industries.
Existing members are some of the biggest players in the European hemp industry, and include GMP-certified cannabis processing facilities and others which sell fiber-based materials directly to carmakers BMW, Porsche and Volvo.
Founded in 2019, London-based Canxchange has 400+ members, trades in more than 40 product categories and represents upwards of €65 million in inventory value.
The company also carries out constant research among hemp and medical cannabis stakeholders, and issues quarterly benchmark reports.