Cash is King, But Credit is Power

Please be aware that cannabis and related laws vary. Programming in this track is designed to inform attendees about this fast-changing industry, and does not promote the use or sale of illegal drugs.

One of the biggest challenges the cannabis industry faces is banking restrictions. Cannabis remains a Schedule I substance, preventing federally chartered banks and credit card companies from providing services. The absence of big financial institutions has led to many challenges: inefficient cash-only operations, limited access to capital, crime, etc. But it has also empowered startups to offer creative and compliant financial services. This session brings together a B2B cannabis marketplace of $1 billion annually, two cannabis brands with growing footprints and millions in cash on hand and a dispensary enabling thousands of transactions — without cash. Learn what deposit, payment and lending strategies businesses are employing and how they are building a legal green banking ecosystem.

Programming descriptions are generated by participants and do not necessarily reflect the opinions of SXSW.

Doug Gordon

LeafLink

Codie Sanchez

Entourage Effect Capital

Adrian Sedlin

Canndescent

Jamie Warm

Henry's Original

Details

Primary Entry:
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Format:

Panel

Type:

Session

Track:

Cannabusiness sponsored by High Grade Hemp Seed

Level:

Intermediate