$SING Though a total of 28 states have legalized marijuana in some form of consumption/use, marijuana is still federally illegal, which hinders licensed marijuana businesses from opening an account with most national banks. Cannabis businesses must instead deal in cash, which puts them at risk of break-ins, theft and other threats, as well as creates space for tax fraud. However, for smaller banks, credit unions and companies like SingleSeed, the lack of banking solutions creates the opportunity to fill increasing demand.

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