Tribes Look At Banking To Solve Issues For Cash-Only Cannabis Industry

Banking woes for the legal cannabis industry are a real thing, and the Marijuana Business Daily is reporting on one of the latest firms attempting to solve the issues for cash-based cannabis businesses.

The goal behind the firm CannaNative, as stated on their site, is to "help tribes to develop hemp and cannabis-based economies on Native American lands throughout the United States. We believe that every tribe should have the opportunity to establish and grow a responsible, cannabis-based economy to sustain all future generations."

The San Diego-based company has been approaching tribes across the country in the hope of persuading them to act as bankers.

According to the Marijuana Business Daily's John Schroyer, it works like this: "companies would sign up for accounts, and depending on where they're located, an armored car service would pick up cash deposits and take the money to a secured facility on nearby tribal land. The client would then have access to the funds via an electronic system, so the money could be used for payroll and other needs."

While it's still too early to say whether CannaNative is a viable solution for cash-only cannabis firms, this week they announced a partnership with General Hemp. Here's's interview with co-founder and owner Anthony Rivera.

h/t, Marijuana Business Daily


Most people know that to consume alcohol and then get behind the wheel of a car is very dangerous — not just for the driver and passengers, but for anyone else sharing the road. For cannabis consumers, however, understanding levels of impairment is not so straightforward. To date, there is not yet a technology used by law enforcement that can accurately detect cannabis impairment similar to alcohol breathalyzers.

Can we see some ID please?

You must be 19 years of age or older to enter.