American Banker by , American Banker / October 11, 2022 at 10:57AM

Even after years of momentum toward legalizing cannabis on a federal level through the SAFE Banking Act, the timeline for its passage remains hazy at best — but there's still ample room for innovation in the states that have legalized weed.

So many companies have entered the legal cannabis market that some such as Chicago-based Aeropay are starting to form alliances.

Aeropay supports account-to-account payments, or transfers directly between bank accounts, covering more than 2,000 banks. There are some limitations, since the interstate transfer of cannabis is still mostly illegal, hindering cross-state e-commerce purchases.

Continue reading...