Alkiviades (Alki) David, a Greek billionaire and entrepreneur, has launched The Swissx Bank of Cannabis headquartered in Gstaad, Switzerland and with a Caribbean headquarters to be named soon. The bank also operates SWX Coin, a cryptocurrency based on Bitcoin’s blockchain with single unit pricing pegged to the median global price of premium hemp flower.
The Swissx Global Hemp Exchange will also provide a secondary market where futures and other trades can be made based on its global market analytics, the company said. The CBD-hemp business is expected to reach $24 billion in the U.S. alone by 2023.
Initially the bank and its coin will manage all of Swissx’s financial transactions with its partners in the United States, Europe and the Caribbean. Former Prime Minister of St. Kitts-Nevis Denzil Douglas has joined the bank’s board.
In a statement, the company claims that, “The Swissx Bank of Cannabis launched with the backing of $750 million dollars’ worth of Swissx Cherry Wine and Donald Trump seeds and $250 million in Swiss Francs.”
Earlier this summer, David was arrested on St. Kitts and Nevis for allegedly smuggling nearly $1.3 million worth of cannabis plants and seeds on his private jet, which he claims was above board.
Swissx CBD products are currently distributed in health food stores and in mass market outlets such as 7-11 convenience stores.
Swissx is supported by Alki David’s companies, FilmOn Networks, a global streaming TV service, Hologram USA, a celebrity hologram and telepresence company, and the digital distribution platform Octiive. Partners of David’s companies include Universal Studios, Capital Cities/ABC, the House of Dior, Universal Music Group, Tyson Ranch, Indian Prime Minister Narendra Modi, and NBCUniversal.