About Abaca: Abaca is a financial technology company at the forefront of unlocking financial services for the legal cannabis industry. Our mission is simple but challenging: enable deposits, electronic payments and access to capital for cannabis business, all while ensuring our partner financial institutions remain compliant in an ever-changing regulatory landscape. We are passionate [...]
About the job Abaca is a financial technology company at the forefront of unlocking financial services for the legal cannabis industry. Our mission is simple but challenging: enable deposits, electronic payments and access to capital for cannabis business, all while ensuring our partner financial institutions remain compliant in an ever-changing regulatory landscape. We are [...]
To paraphrase a well known TV commercial, “It’s your money, and you need it now!” It only makes sense that you want to get a cannabis bank account quickly. But, due to the myriad regulatory hoops to jump through to remain compliant and mitigate risk, the process of getting approved and onboarded for an [...]
It’s no secret that the cannabis industry is dominated by cash. (For reference, 19% of non-cannabis transactions are cash versus up to 90% of cannabis transactions.) Until banking reform or full legalization happens on a federal level, many financial institutions will continue refusing to work with state-legal operators. The major credit card processors notoriously [...]
Today is the day! Your promotions were a hit and your cannabis business kicked it into high gear to meet the demand. Now you can start to relax and enjoy everything you bought to properly celebrate 420. To truly ensure a great time, you need a solid playlist. We’ve got you covered! Here at [...]
If you’re not a fan of a Dormant Commerce Clause-ruled post-legalization world, take heart. The Supreme Court has recognized the ability of Congress to suspend the DCC, allowing states to continue operating their insular marketplaces by restricting interstate trade. In order to suspend the DCC, Congress must use unmistakably clear language that leaves no [...]
The most popular cannabis reform proposals claim their intent is to preserve each state’s autonomy when it comes to cannabis. However, unless Congress includes language to suspend the Dormant Commerce Clause, the supposed self-determination will be overruled by a highly important but infrequently discussed legal threat with potentially massive consequences for the current operators [...]
The cannabis industry is maturing, and many cannabis businesses are starting to expect more from their banks, credit unions, and other financial services providers. “420 Friendly Banks” that merely accept cannabis deposits are no longer enough to serve the industry’s sophisticated and growing needs for financial tools and partners. The [...]
In Part 1 of this primer on cybersecurity for the cannabis industry, we talked about what's at stake for operators if they become victims of a cyber attack. We discussed the most popular types of threats and how to identify them. Additionally, we covered a real example of a cultivator that lost thousands [...]
Entrepreneurs and investors are jumping head first into the red-hot cannabis market, lured by the potential for massive growth and profits. Unfortunately, cybercriminals have also taken notice of the opportunity and are specifically targeting cannabis operators. Sometimes these attacks are sophisticated, but often, all that is needed to protect a business is proper [...]
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