Tel Aviv, Israel, July 10, 2018 - PRESS RELEASE - CMTREX, an IT solutions provider delivering integrated platforms to the physical commodities market, is on track to launch an international Cannabis Mercantile Trading Exchange at the upcoming Cannatech Global Summit in Sydney October 28-30.
The company is co-founded by Saul Singer, an experienced executive in the international physical commodities market, and iCAN: israel-cannabis.com, a leader in accelerating and commercializing products for the global cannabis market. CMTREX is the first company to be accepted into iCAN’s prestigious incubator.
With the exponential growth of the cannabis and hemp industry, there is a clear need for trading platforms to facilitate, quick, efficient, transparent and compliant trading between buyers and sellers.
“Until now, there has been no standardized, compliant, international market for trading in the increasingly global cannabis market. This situation has caused trading inefficiencies as well as legal challenges. iCAN will use its deep expertise and network outreach to work with CMTREX to launch and grow the first fully-integrated IT driven exchange trading ecosystem with blockchain integration to enhance provenance,” said Saul Kaye, iCAN CEO.
Based on Israeli IP developed for the international diamond market, CMTREX will facilitate an Omni-channel platform allowing producers/sellers to market and sell its products through a range of methods whilst simultaneously enhancing efficiency and price transparency for buyers.
“I am delighted to have the opportunity to co-found CMTREX together with iCAN and have the privilege of being the first portfolio company to be incubated by iCAN. This strategic partnership will provide CMTREX with direct access to the most powerful global ecosystem of iCAN which will significantly assist in CMTREX's go-to-market strategy. The synergistic fit of our IT-driven trading platform and iCAN's knowledge and expertise throughout the global cannabis industry will facilitate the delivery of a much-needed wholesale trading solution that will benefit stakeholders throughout the cannabis and hemp pipelines,” said Saul Singer, CEO of CMTREX.