Media Room2021-06-01T15:35:41+00:00

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Press Room Highlights

RELEASE: Cannabis Cash Steps Into Digital Future

$1 Billion

$1 billion in cannabis commerce processed.

As seen in

Marijuana Business Daily
Business Insider
Wall Street Journal
Monitor Daily
Cannabis Business Times
Arkansas Business
Market Watch
Yahoo Finance
Bank Director
Pymnts
Benzinga

Media Kit

Abaca provides state-legal cannabis and hemp/CBD businesses with compliant bank accounts, lending, electronic payments, and other financial services through its financial technology-powered cannabis banking platform. Using its proprietary technology, Abaca creates a bridge between cannabis industry players and proven financial services partners – navigating the thorny patchwork of state and federal regulations.

Nationwide Growth

In 2017, four entrepreneurs with discrete and complementary experience in law, banking and financial services technology got together with an idea to simplify and solve the cannabis banking problem. As a result, Abaca has grown from serving one state to eight, with its sights set on nationwide expansion. Abaca now offers cannabis banking, payment processing and lending. Since its founding, Abaca has received numerous capital investments and become a recognized resource in delivering financial services in a safe, compliant and secure manner.

Service Areas

AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY DC

The Cannabis Financial Ecosystem

A Solution for the Entire Ecosystem - Banks, Cultivators, Processors, Ancillaries, Dispensaries, Consumers

Leadership

Dan Roda JD, LLM
Chief Executive Officer

Dan is a former corporate attorney with 10+ years of transactional and regulatory practice experience and degrees from Tulane University, Villanova Law School, and the University of Alabama. As Dan’s cannabis industry client roster grew, he noticed a consistent problem — banking — leading to the founding of Abaca. Dan is the company’s CEO and its chief legal officer.

Greg Ellis
Chief Technology Officer

Chief Technology Officer Greg Ellis built the software architecture of two successful fintechs prior to Abaca, and spent two decades in mortgage banking and hedging interest rate risk. Greg has a diverse background in finance, technology and he loves to spend time woodworking and making music. Greg is responsible for the conception and creation of Abaca’s cutting edge tech.

John Foley
Chief Financial Officer

John Foley spent 25 years in senior leadership and chief executive roles with community and national banks, and also co-founded a large regional insurance agency. Whether he’s in a boardroom or a grow-op, John stays true to his banking roots. John might not have to wear a suit and tie too often any more, but he still wears his banker hat while heading up Abaca’s compliance and account operations teams in addition to serving as the company’s chief financial officer.

Brian Bauer
Chief Strategy Officer

Once a door gunner in the U.S. Navy, Brian Bauer went on to run successful fintech accelerator programs for the Independent Community Bankers of America and FIS, giving him unique insight and visibility into emerging financial tech. Now a well-known figure in the Arkansas fintech community, Brian assembled the Abaca leadership team and serves as the company’s chief strategy officer and chief revenue officer.

Media Contact

Phone

Call or text

‪(501) 291-1261‬

What Our Clients Say

Banking with Abaca has made issuing and receiving payments easy with options for old school and electronic payments. Receiving payments from dispensaries and paying our vendors is so easy.

ROBERT DEBIN, President, Natural State Medicinals

You would think ancillary businesses in the cannabis industry would have an easier time getting a bank account, but that is not the case. Abaca has enabled our testing lab to access traditional banking. Abaca enables my cultivator customers to pay electronically, and not with cash. We love their web interface. 

BRANDON THORNTON, Chief Executive Officer, Steep Hill Arkansas

The folks at Abaca are always quick to help us solve our payment issues and provide assistance to improve our process.

DAVID TRAYLOR, Chief Financial Officer, Bold Cultivation

Resources

Recent blog posts and articles

Cannabis Cash Steps Into Digital Future

April 21st, 2021|

NORTH LITTLE ROCK, Apr 21, 2021  -- Cannabis financial services provider Abaca has partnered with Staley Technologies and CIMA to digitize one of the last remaining analog [...]

More

Recent Posts

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Contact Info

317D North Main Street, North Little Rock, AR 72114

Phone: 501-476-6696