Berkshire Bank, one of the largest banks in Massachusetts, is expanding services for cannabis companies and entrepreneurs nationwide.
The new banking unit will be established through a partnership with Florida-based Green Check Verified, a cannabis financial services and software company, to offer a platform for clients to conduct and monitor transactions, according to the Boston Business Journal.
ADVERTISEMENT
Berkshire Bank joins a growing number of Massachusetts financial institutions that are beginning to serve marijuana businesses.
Available services for plant-touching, ancillary and other marijuana-related businesses include electronic fund transfers and wire services, armored cash pickup, debit cards and checks, mobile and online banking as well as savings accounts, money-market access and wealth management, the business publication reported.
The developments come as large parts of the marijuana industry still struggle to secure strong banking relationships and some key services.
The recent decision by financial giant Mastercard to halt
Read full article on Marijuana Business Daily
