Confia brings technology-based cannabis transaction and
After success in California, the largest legal cannabis market in the United States, cannabis technology platform launches operations in Massachusetts, opens headquarters and launches new marketing divisions
Irvine, Calif., August 10, 2021 (GLOBE NEWSWIRE) – via NewMediaWire – Confided (“Confia” or the “Company”), the leading technology platform for financial compliance, B2B / B2C transactions and secure banking services designed for the cannabis industry, today announced its expansion to the coast. is, starting with Massachusetts, as the cannabis market continues to grow. Confia works like dba for PointChain. The company is offering its core banking and transaction capabilities to cannabis operators on the east coast and plans to add additional services as soon as possible. The expansion accompanies the launch of new marketing divisions and the opening of a new head office in Irvine, California.
The ever-changing landscape of transactional banking for the cannabis industry has propelled Confia’s growth in recent months, where it now has full coverage in California, the world’s largest legalized cannabis market. Using programmatic technology, Confia provides cannabis operators with access to affordable and efficient financial services that support the compliance and transactional complexity of the cannabis industry. With services such as API and web capabilities and new transaction features, including escrow-based transaction contracts, Confia has created a technology-based ecosystem designed to enable the entire supply chain cannabis.
Following its early successes on the West Coast, the company is expanding into the East Coast market, with the aim of helping emerging operators looking to expand into new and emerging markets. The company is first testing the platform in Massachusetts before expanding Confia’s service area to nine states by the end of 2021.
âConfia differs from other banking solutions in that it not only provides access to traditional banking services for cannabis companies, but is backed by an industry-leading automated platform that offers a comprehensive suite of transactional financial solutions, âsaid Mark Lozzi, CEO of Confia. . âWe built Confia with the entire cannabis supply chain in mind, and not just as a banking solution. For example, our state-of-the-art automated transaction contracts will simplify the flow of funds within the industry, create trust and inspire trust between cannabis operators who transact with each other. We’ve worked with some of the largest operators on the West Coast, and with new states connecting daily, we’re both excited and honored to expand our platform to the East Coast, starting with our launch. beta in Massachusetts, and our sights on Michigan and Florida next.
Confia differs from other cannabis-related financial service providers with advantages such as:
- Eligible accounts insured by the FDIC
- Low cost, high limit cash deposits
- ACH and incoming / outgoing wires
- Check deposits and payroll processing
- Automated compliance filing (SARS / CTRS) and tax payments
- Low-cost, contactless transactions for consumers
Confia streamlines complex financial processes for the cannabis industry, ensuring both compliance and secure payments in real time. As an Authorized Money Services Provider, Confia offers traditional banking and cash management services, bill payment services, unlimited B2B payments, API-based payment solutions that serve both businesses and retailers. consumers, and desperately needed lending solutions in the cannabis space. To learn more about Confia, visit www.confia.io.
Confia, operating as a dba for PointChain, is a financial transactions platform that provides the cannabis industry with cash management and digital banking services, bill payment, unlimited B2B payments, API-based payment that serve both business and consumer, and lending solutions. Confia processes payments in real time, and the platform contains ongoing compliance features and provides trusted relationships with other member companies and customers. To find out more, visit www.confia.io.