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Cannabis Plants Growing out of Blockchain Blocks

Blockchain-Enabled Exchange Amercanex Joins Cannabis Platform Helix TCS

Reading Time: 2 minutes by on February 8, 2019 Adoption, Blockchain, Business, Exchange, Finance, Investment, News

On February 6, 2019, Helix TCS announced that it had purchased Amercanex International Exchange, which operates an electronic trading platform for the legal distribution and purchasing of cannabis.

Blockchain integration

For Helix TCS this purchase was essential, as Amercanex International has a well-developed all-around blockchain functionality included in its’ platform. This platform will also facilitate an easier way to purchase cannabis for Helix’s customers. Zachary L. Venegas, Executive Chairman and CEO of Helix TCS, said:

“Helix TCS now possesses the unique technology suite needed to scale the industry’s first compliant wholesale cannabis exchange worldwide.”

For Amercanex, this merger brings exposure to a large number of well-established cannabis marketplaces, which will all come together on a platform created by the company. 

Helix TCS’s activities focus on providing support and services to licensed cannabis dispensaries and operators. The company develops business strategies, monitors legal paperwork and risk for its clients. Helix TCS offers services and products to more than 2,000 customers spread over 33 states and five countries.

Amercanex focused its activities towards the development and legal compliance of its Blockchain-enabled trading platform ACExchange. The company also introduced an easier and more secure way for cannabis dispensaries and sellers to purchase and track their investments through ACEpay. This system allows customers to deposit and withdraw funds in their accounts to pay bills, taxes, and payroll.

Compliance with Financial Authorities

The blockchain platform, developed by Amercanex in compliance with all SEC and CFTC requirements supports multiple functionalities, which provide customers with a complete service.

Customers have the opportunity to make purchases and transactions in real time, go through detailed reports of their previous purchases, benefit from a Q&A section for results, and also become part of a dispensary loyalty program. Amercanex is a widely popular platform and is available in most regions where the purchase of cannabis is legal including Canada, California, Washington, Oregon, Nevada, Montana, New Mexico, Arizona, Minnesota, Illinois, Michigan, Georgia, New York, Vermont, New Hampshire, Maine, Massachusetts, and Maryland.

The terms of the deal included an equity remuneration at closing, provided by Helix TCS, and several milestones that will be paid in the future. The milestones are tied to strict performance targets and will be paid in either cash or Helix TCS equity.

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