PRESS RELEASE
BONITA SPRINGS, Fla.–(BUSINESS WIRE)–Today, Green Check (GC), the leading fintech provider of financial service solutions and industry insights in the cannabis market, announced a new feature that enables access to banking services for licensed cannabis-related businesses (CRBs) operating within indigenous communities.
This update helps to address a crucial gap in financial services available for the growing number of CRBs on indigenous lands, which has increased by nearly 25 percent since January 2023. Historically, state-issued license requirements have created barriers for financial institutions in serving businesses licensed by sovereign nations.
CRBs with tribal licenses can now onboard seamlessly onto the Green Check platform, expanding access to banking for CRBs on sovereign land. It will include comprehensive regulatory rules in future updates, streamlining the onboarding process, and simplifying access to essential financial services for these businesses.
“While this is just the beginning of our efforts to enhance banking services for CRBs with sovereign nation licenses, we view it as a positive stride in the right direction,” said Stacy Litke, VP of Banking Programs at Green Check. “This new feature marks a crucial step toward inclusivity and pushes us toward our goal of democratizing business and financial services for the cannabis industry, as a whole.”
To support this expansion, Green Check enlisted the expertise of the Indigenous Cannabis Industry Association (ICIA) whose mission is to create opportunities and equity for Indigenous people while empowering their communities through policy, programming and outreach.
“ICIA is honored to collaborate with Green Check to help transform banking solutions for CRBs that align with tribal governance rather than state regulations,” said Mary Jane Oatman, executive director of ICIA. “In a landscape where financial institutions often face unique regulatory challenges, it is important to provide tailored support that respects and upholds tribal sovereignty. We are not only facilitating the growth of tribal programs, but also navigating this intricate and often uncharted regulatory environment.”
“Green Check is paving the way for sustainable financial growth for all communities,” said Jay Wright, product marketing manager at Little Beach Harvest, a Shinnecock Nation cannabis dispensary located in Southampton Long Island. “With this expansion, Native Vision meets banking expertise.”
To learn more and to follow along for company news, visit greencheckverified.com.
