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CryptoCann™ Report: Morgan Stanley may offer Bitcoin swap trading; Anheuser-Busch heir launches cannabis company

The financial giant is reportedly planning to offer trading in Bitcoin-tied derivative
Anheuser-Busch building with logo
The great-great-grandson of the Anheuser-Busch founder has launched ABV Cannabis Co

The Crypto Report

While major financial institutions have been hesitant about cryptocurrency, a few have been warming up to the idea of digital assets.

Morgan Stanley (NYSE:MS) is planning to offer trading in derivatives tied to Bitcoin, according to a Bloomberg report.

The Wall Street heavyweight will offer investors the opportunity to deal in contracts to give them “synthetic exposure to the performance of Bitcoin.”

Investors can go long or short using price return swaps with Morgan Stanley charging a spread, or the difference between the bid and the ask price of an asset, for each transaction.

READ: Bitcoin vs Altcoins: Why does bitcoin dominate the crypto market?

Bitcoin swap trading will launch after the completion of an internal approval process.

Some companies remain wary of cryptocurrency but more open to the idea of its underlying blockchain technology.

Distributed ledger technology, like blockchain, could generate US$1 trillion in new trade over the next 10 years, according to a report from the World Economic Forum.

Entitled ‘Trade Tech – A New Age for Trade and Supply Chain Finance’, the report explores the possibilities for blockchain in the global trade finance space.

“Distributed ledger and other technological innovations promise groundbreaking advances in trade and supply chain finance by reducing costs and ease of use,” said the report.

The Cann Report

The date for Canadian recreational legalization is fast-approaching, but the US market is taking baby steps.

The US House Judiciary committee is scheduled to vote on a bill to expand marijuana research opportunities, expanding cannabis production in the process.

The Medical Cannabis Research Act, sponsored by Representative Matt Gaetz (R-FL), would require the federal government to issue more licenses to grow marijuana that would in turn be used in scientific studies.

"The federal government should not stand in the way of collaboration that can help people live better lives,” said Gaetz in an interview with Forbes.

READ: WeedMD exports genetics to Australian medical pot producer

In other US cannabis news, a famous name in the beer world is shifting to cannabis.

Adolphus A. Busch V, the great-great-grandson of the founder of beer giant Anheuser-Busch, is launching a marijuana company in Colorado, as per a Marijuana Business Daily report

Known as the ABV Cannabis Co, it will offer disposable vaporizer pens filled with cannabis oil.

The sole investor was Busch’s father Adolphus Busch IV, who invested US$100,000 in his son’s company, as per the report.

ABV will soon offer flower products and has plans to expand to other states. 

 

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