Today, Verge CryptoCurrency ($XVG) announced its new partnership with Ganja.com, an online CBD (Cannabidiol) retailer. CBD is an active ingredient in Cannabis (Marijuana), and is legal in all 50 states. It has been shown to be effective in treating a wide range of health issues, such as epilepsy, anxiety, insomnia, and even muscle inflammation. XVG.Ganja.com is not only accepting XVG as a preferred payment on the site, but is also offering a 20% discount to its customers that pay with the cryptocurrency, as well as free merchandise for orders over $100 USD. Individuals who were reluctant to purchase CBD products with their debit/credit cards, can do so with a more discrete and private way.
The current market for hemp-derived CBD products was estimated to be at about $591 million in 2018. Now that the Farm Bill was passed in the US, in December of 2018, legalizing low THC hemp, the market is expected to expand to $22 billion by 2022. Investment bank Stifel, which has the most aggressive forecast on Wall Street, believes that U.S. cannabis/cannabinoid sales could hit $100 billion in a decade, comprising half of all global sales. Meanwhile, Christopher Carey, at Bank of America, foresees peak annual sales of around $166 billion for legal weed, with the U.S. contributing to 34% of this yearly total.
Founded in 2014, Verge improves upon the original Bitcoin blockchain and aims to fulfill its initial purpose of providing individuals and businesses with a fast, efficient and decentralized way of making direct transactions while maintaining personal privacy. Verge Currency is a cryptocurrency designed for everyday use.