The Crypto Report

IBM (NYSE:IBM) has teamed up with foreign-exchange settlement provider CLS to launch a blockchain app store for financial services, as per a Reuters report.

The pair created LedgerConnect, a platform designed to apply the technology to areas such as customer compliance checks, sanctions screening and collateral management. The goal is to make blockchain-based software more accessible to financial institutions, thereby speeding up the adoption of the technology. There are nine financial institutions involved, including Barclays PLC (NYSE:BCS) and Citigroup Inc (NYSE:C).

Canadian crypto exchange Coinsquare has launched a subsidiary in an attempt to lure in investors with a suite of investment products. Known as Coin Capital Investment Management Inc, the subsidiary will focus on buzzword technologies like blockchain, cryptocurrencies and artificial intelligence.

"We are at a critical inflection point in the technology sector and Coincapital is perfectly positioned, given its relationship to Coinsquare and deep sector expertise, to take advantage of the next phase of industry growth,” said CEO Lewis Bateman in a press release.

In a recent deal with Deutsche Boerse Group’s index provider STOXX, the division launched two indices. One index focuses on AI and biotechs while the other has a blockchain focus.

The Cann Report

Canadian cannabis heavyweight Aurora Cannabis Inc (TSX:ACB, OTCQB:ACBFF) continues its expansion.

The company has received a Health Canada Dealer’s License for its Aurora Mountain facility in Alberta, making it its third facility to be licensed. The license gives the company the opportunity to transport both domestically and internationally, bringing its cannabis products to international markets.

"Being able to more freely transport and export cannabis oils, derivatives and concentrates allows us to develop new products that respond to market demand in a variety of regulatory frameworks in different countries,” said CEO Terry Booth.

Back in the States, a Pennsylvania representative plans to introduce legislation to legalize the sale of recreational marijuana, as per a local ABC report.

State Representative Jake Wheatley (D-PA) pointed to a recent report by state Auditor General Eugene DePasquale that estimated legalizing marijuana could rack up more than US$580mln in annual tax revenue.

“States from coast to coast have embraced legalization and those states are reaping the economic and criminal justice benefits,” said Wheatley in a statement.

The measure would also wipe criminal records clean for some marijuana-related convictions.