Confia, a leading technology platform for financial compliance, B2B/B2C transactions, and secure banking services designed for the cannabis industry, announced its expansion to the East Coast, starting with Massachusetts, as the cannabis market continues to grow. Confia operates as the DBA for PointChain. The company is offering its core banking and transaction capabilities to East Coast cannabis operators and plans to add additional services in short order. The expansion accompanies its launch of new marketing divisions and opening of new headquarters in Irvine, Calif. The ever-changing landscape of transactional banking for the cannabis industry has propelled Confia’s growth in recent months, where it now has full coverage in California, the world’s largest legalized cannabis market. Utilizing programmatic technology, Confia provides cannabis operators with access to affordable and efficient financial services that support the compliance and transactional complexity of the cannabis industry. With services such as API and web-based capabilities and new transaction features including escrow-based transaction contracts, Confia has created a technology-based ecosystem designed to enable the entire cannabis supply chain. Following its early success on the West Coast, the company is expanding to the East Coast market, with the goal of assisting up-and-coming operators looking to scale into new and emerging markets. The company is beta testing the platform first in Massachusetts before increasing Confia’s service area up to nine states by the end of 2021.
Posted Melissa Schiller, Cannabis Business Times, 08/10/2021 16:04:00