Issues in Banking

Cannabis Companies Can't Use Federal Banks

The banking issues facing the cannabis industry are vast. Since cannabis is still not federally legal, cannabis companies can’t use federal banks. This means no banking system for tracking expenses and revenue, no direct deposits for employee payroll, no business credit cards, and no easy access to capital. The completely “unbanked” industry has had to rely mainly on angel investors and risky ICOs to attract new money, but these sources are unreliable and have historically not been able to attract serious, qualified investors.

The CERES Coin ledger allows cannabis companies to have a clean, complete record of all transactions, from seed to sale, giving investors the confidence they need to invest and giving cannabis company owners the ability to manage daily expenditures with ease.

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