In the heart of the green revolution, a fintech startup is breathing new life into the cannabis industry with its innovative banking compliance solution. By ensuring transaction transparency, it opens the doors of financial institutions to cannabis businesses, which were once excluded from the traditional system. This software, a true engine of transformation, traces every dollar and product, thus guaranteeing the legality of operations. As a pioneer in its field, the fintech plays a key role in the development of a rapidly expanding market. Each month, it verifies the authenticity of one billion dollars in legal marijuana sales, connecting over 11,000 businesses to more than 150 financial institutions.
The company Green Check is at the forefront of the legal cannabis revolution in the United States by enabling cannabis dispensaries to access the mainstream financial system. With its banking compliance software, which checks approximately 1 billion dollars in legal cannabis sales each month, Green Check secures the integration of this still predominantly cash-based industry. By collaborating with over 150 financial institutions, this startup plays a crucial role for around 11,000 cannabis businesses, helping them obtain and maintain bank accounts. Indeed, despite the legality of cannabis in 38 states, the lack of access to traditional financial systems remains a barrier. Green Check establishes itself as a key player, ensuring that transactions comply with the industry’s complex regulatory requirements.
discover the financial innovation supporting the cannabis market
The cannabis sector, in full expansion, is facing a major obstacle: the lack of access to traditional banking institutions. Indeed, despite its legality in many states, federal law still considers this plant illegal, pushing the industry towards alternative financial solutions. This is where Green Check comes in, a bold fintech startup focusing its efforts on establishing a secure banking infrastructure for the cannabis market.
the startup merging financial technology and cannabis
Green Check has created a compliance software that revolutionizes how cannabis companies interact with banks. By connecting dispensaries’ payment systems, this solution aggregates the financial data needed to prove the compliance of transactions with state laws. This ingenious approach attracts more than 150 financial institutions eager to secure their participation in this rapidly growing market. You can discover other innovations of the same kind at Crealogic.
The cannabis industry in the United States is experiencing a growing demand, with projections reaching nearly 35 billion dollars this year. Unfortunately, about 75% of transactions still occur in cash, a considerable obstacle to access to modern payment solutions. This is where players like Green Check play a crucial role, facilitating a gradual transition to a more transparent and secure economy.
towards a smoother integration between fintech and cannabis
As legislation evolves slowly, Green Check is anticipating upcoming changes by reinforcing its position in the market. This dynamic fintech is gradually establishing itself as the necessary bridge between the cannabis industry and the banking system. By adopting cutting-edge technologies, it optimizes the trust relationship between the two industries and welcomes every new business that joins its platform with remarkable efficiency.
