Global Payout, Inc. (OTC: GOHE) is pleased to announce that its majority owned subsidiary, MoneyTrac Technology, Inc. (“MTRAC”, the “Company”) has completed a Joint Venture Partnership agreement (“JV”) with Integrated Compliance Solutions, LLC (“ICS”), a premier “Seed to Banktm” provider of financial and regulatory compliance services and solutions for the multi-billion-dollar retail cannabis industry.
As MTRAC has continued to make significant headway in recent weeks in the development of a strong foundation that is required to deliver legitimate banking solutions to the legal cannabis industry. The Company views the establishment of this JV Partnership with ICS as a critical opportunity to fortify the compliance aspects of the banking solutions that are being co-developed by MTRAC and the strategic partners with which they have been collaberating.
Said MTRAC CEO, Vanessa Luna: “The importance of compliance in an industry that is so heavily regulated like retail cannabis is something that cannot be understated. The ICS team carries several years of valuable experience with them in the field of regulatory compliance solutions and financial technology services for banking, and their integration into the banking solutions we are dedicated to delivering to the cannabis industry is not only significant, but essential to our commitment of providing retail cannabis businesses with the most compliant and regulated banking solution available.”
Said ICS CEO, Christopher Johnson: “It should come as no surprise that the retail marijuana business is one of the highest risk spaces in retail. Being able to effectively track and manage KYC and source of all funds is imperative for these businesses who are focused on operating retail establishments that are not only profitable but are fully compliant with all financial regulatory requirements. Our “Seed to Bank” technology solutions give these businesses the tools necessary to navigate the challenging and changing compliance waters, and I am excited to be joining MoneyTrac and its group of experienced partners on this important venture of bringing real banking solutions to the growing industry of cannabis.”
MTRAC intends for much of its focus over the coming weeks to surround incorporating the multiple strategic partnerships it has cultivated within the financial, banking, and compliance service sectors into the ongoing co-development of a banking solution that meets the demands and needs of the emerging retail cannabis industry.