Arkansas, USA – based in North Little Rock Abaca has processed more than $2 billion in transactions for the cannabis (marijuana) industry. The growth with fintech banking comes as more states in recent years have legalized some form of marijuana use.
The company recently announced that it has processed transactions “consistently” through “bank-backed financial technology” that provides “normal financial services to a poorly banked sector.”
“In the past two years, we have been very focused on helping our clients do their business faster, with greater accuracy, controls and stability, allowing them to achieve efficiency and scale their financial operations,” said Dan Rhoda, CEO of Abaca, in the statement. “Seeing that we have now facilitated $2 billion in trade for our customers is very rewarding. We plan to continue leveraging our cannabis compliance and technology expertise to find new ways to empower the industry as it continues to grow and evolve.”