CMTREX: A Gateway to the Global Cannabis and Hemp TradeSaul Singer, the co-founder, and CEO of CMTREX sat down with CannabisTech to discuss the rapid evolution of the cannabis marketplace.
CMTREX addresses the urgent need for a cannabis-focused trading platform, which offers the market participants efficient, secure, transparent, and compliant trading options. At its core, CMTREX is an IT-driven trading platform and is set to launch a series of products over the next two years likely to drastically alter the traditional methods of buying and selling cannabis products, for the better.
CMTREX seeks to develop an efficient ecosystem for cannabis trading across the global marketplace. Singer has pulled from his extensive experience in international physical commodities markets, and expertise in IT solutions to develop a leading cannabis market trading platform.
Here are the three most important takeaways from the conversation,
1. Strategically Placed in the Cannabis Industry in More Ways Than One
It’s clear that CMTREX is strategically placed in the evolving cannabis sector in more ways than one. At the onset, Singer decided to set the company roots in Israel, a world leader and innovator in cannabis research and development. The country is one of the few places on earth whose government wholeheartedly supports cannabis research.
Israel is a state with a population of 8.5 million, but it is fostering close to 6,000 startups. Israel has a tremendous drive towards technological, and agricultural innovations as well, which perfectly aligns with the vision behind CMTREX. CMTREX sits in a hotbed of cannabis, agricultural and cannatech research. It is primed to take advantage of all three as it launches a set of three new products over the next 24 months.
Beyond CMTREX’s physical location, the company itself is driven by innovation. Innovation in IT solutions, in commodity trading, and in cannabis. This dedication to pushing the boundaries of innovation was underlined when they were welcomed into iCAN’s prestigious incubator program.
Finally, CMTREX is committed to a collaborative partnership model. A strategy which will surely pay off as the cannabis marketplace is increasingly moving their research operations into Israel to take advantage of the liberal government approach to funding cannabis-based R&D. According to one estimate, 50 American companies have already moved their research base into the country. CMTREX is well positioned to work with some of the leading names in the global industry.
2. Paradigm Shifts in the Sector Making Way for a Global Cannabis Exchange
According to Singer, he predicts that the paradigm shifts already happening in the global cannabis world are quickly making space for an integrated and transparent exchange-based trading system. The most obvious change is the one towards legalization, both for medicinal and recreational products. There are already three countries (Uruguay, Canada, and the Netherlands) which allow for the legal export of cannabis and cannabis-based products, and it seems that Australia may also be opening its doors to cannabis export as well. Exporting cannabis on a global scale is a huge leap forward from what the marijuana market looked like barely a decade ago.
There are also shifts happening throughout the research sector, as more funding opens up to the study of marijuana and especially marijuana as medicine. In the nineties medicinal cannabis remained on the sidelines, often considered more of a pseudoscience than legitimate medicine. But today, cannabis as medicine is an increasingly exciting and accepted field of study.
Singer is expecting CMTREX to facilitate a third paradigm shift in the near future. A shift from the traditional one-to-one method of transaction, where one seller works with one buyer, to a broader one-to-many, or even a many-to-many, method of exchange. Suppliers are already feverishly pushing to market their wares to as many accredited buyers as possible.
3. Big Plans in the Pipeline for CMTREX
Over the next 24 months, CMTREX plans to launch three exciting products designed to address the urgent needs of the evolving cannabis market. Their first offering, a secure digital B2B marketplace, is set to launch in Sydney this October at the CannaTech Global Summit. This marketplace according to Singer, is working towards hyper authentication, both of the market participants and for the products traded. It's a sophisticated system, of data capture and data learning layered behind the transactional layer. It will address the need for price transparency, clearly lacking in the sector today.
They are also set to launch a tender service as well as a brokerage service in the coming months. Looking at these three products together, CMTREX is developing a holistic approach to a cannabis exchange. The CMTREX platform will offer much more security, transparency and market integration to traditional suppliers and buyers. It’s likely to become a critical tool for regulators and trade associations. These tools can offer a real-time snapshot of the state of the markets, pricing and global demand.