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A pair of recent Massachusetts Institute of Technology graduates have packed up, moved to Chicago, and raised $4.5 million to launch a first-of-its-kind trading platform for industrial hemp.
The duo said traditional markets have overlooked hemp, Crain’s Chicago Business reported. And the two are off to a solid start, having won regulatory approval from the Commodity Futures and Trading Commission for a portion of their company, Seed CX, to become a swap execution facility.
The two twentysomethings also hope to become a “designated contract market, or essentially a futures exchange,” the paper reported, which would allow them to