Safe Harbor and CanPay Launch Statewide Cannabis Banking in Hawaii
In an Unprecedented Move, Banking Partners and Regulators Come Together to Provide Access to Financial Services for Cannabis Businesses
CanPay, the first legitimate debit payment solution for the cannabis industry, and Safe Harbor Private Banking, the leading compliant banking program for cannabis businesses, today announced banking services and cashless payments are available statewide for Hawaii’s cannabis businesses. This marks the first time banking partners, regulators, and cannabis licensees have worked together to bring banking solutions to a previously unbanked legal medical marijuana market.
For more information on the challenges banks face when serving MRBs checkout the Cannabis Banking Working Group organized by California State Treasurer John Chiang.
To solve this problem, State Treasurer John Chiang has convened the Cannabis Banking Working Group (CBWG). The working group, made up of representatives from law enforcement, regulators, banks, taxing authorities, local government and the cannabis industry, is charged with finding practical and timely ways to address the state-federal conflict.