Breaking News: Global Payout’s Subsidiary, MoneyTrac Technology Inc. Explores Partnerships with Compliance Firms in the Cannabis Banking Sector

Global Payout, Inc. (OTC: GOHE) (“Global” or “the Company”) is pleased to announce that its majority owned subsidiary MoneyTrac Technology, Inc. (“MoneyTrac” or “MTRAC”) is currently in the process of exploring potential strategic partnership opportunities with a variety of entities that are focused on helping banking organizations become compliant with Cannabis regulatory frameworks in states where it is available for medical or recreational purposes.

The marijuana industry grew at a 30 percent annual rate from 2015-2016, with Arcview Market Research predicting a 25 percent compound annual growth rate through 2021. As large as it is diverse, the industry now serves 29 U.S. states and the District of Columbia, where marijuana has become legal for medicinal and/or recreational use. Demand, supply, and product diversity are fueling the growth. The requirements in place that allow financial institutions to work with the cannabis industry are complicated and the consequences of not complying can be severe. Despite this, many institutions want to enjoy the benefits of this massive new market sector, but are lacking in the crucial compliance knowledge and experience.

In an effort to capitalize on a market that is severely underserved with the availability of viable banking options, MTRAC, a full service financial technology organization, is maintaining a sharp focus on securing partnerships with established compliance financial organizations. It is particularly interested in working with companies that possess a proven knowledge of the compliance and regulatory requirements that are necessary to effectively operate within the cannabis industry from a banking perspective.

Sponsored Content Release. Click for Full Disclosure

 

Leave a Comment