Resolving the Financial Woes of the Cannabis IndustryWhile the federal government continues to tighten the clamps on the cannabis industry, compliance and tracking of business transactions that include banking, payroll, and distribution of products have never been more critical.
Amercanex, located in Denver, Colorado claims to have resolved the two most significant hurdles facing cannabis industry regulators, lawmakers, and stakeholders; cash management and seed-to-sale tracking. Americanex's suite of software solutions enables banking, tracking, lab testing and cash management; all while confirming government compliance.
Drawing on Decades of Financial Expertise
Built on decades of experience in the financial sector, the executive team at Americanex bring expertise in financial compliance and regulation, software development, and marketing analysis to the cannabis industry. Among notable members of their executive team Adam Martin, Co-Founder and Head of Product Development spent the last 10 years focused on foreign exchange markets in the financial industry and held a senior role with Forex Capital Markets (FXCM) institutional operations. Steve Ferrara, the company's Chief Compliance Officer boasts more than 20 years of experience in financial regulation, corporate auditing and market surveillance for several major trading firms at the New York Mercantile Exchange (NYMEX). Along with others, the Amercanex executive team has more than two centuries of combined financial and technological expertise to help launch the cannabis industry into financial legitimacy.
The ACExchange Solution
ACExchange, allows cannabis businesses to buy and sell products at true market pricing and offers many additional benefits including transparent pricing, reporting, RFID plant tracking and back office functionality which satisfy compliance rules and regulation enforced by the Securities Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC).
Operating at the wholesale level; ACExchange is not designed for retail end users. All marketplace members are licensed stakeholders, growers, manufacturers and retailers competing for the best pricing and products on a transparent platform.
How It Works
The buyer deposits money into ACEpay.
- A transaction between buyer and seller is made through ACE.
- Payment is transferred from one ACEpay account to the other in a "pending" status until the buyer receives and accepts delivery.
- Products are delivered via armed guard.
- Products are released to buyer.
- Money is released from "pending" status to credit the seller's ACEpay account.
The ACEpay Connection
Powered by Vertepay, ACEpay is an e-wallet solution intended for cannabis and financial industries. The e-wallet allows Amercanex members to deposit cash and pay bills like payroll and taxes on time while complying with federal banking regulations. Along with a cashless solution which offers a pre-paid Visa or MasterCard, ACEpay allows for safe and efficient business transactions.
Connecting directly to your bank account for safe and secure transactions, ACEpay is Level I PCI compliant with SHA-256 encryption and fraud monitoring. ACEpay eliminates the security risks associated with cash-only businesses and is currently in use in more than 4,000 installations nationwide.
ACEtrak Seed-to-Sale Software
To finish out this all-encompassing software solution, Amercanex offers ACEtrak, a seed to sale tracking software with administrative, plant and inventory management, security, compliance, and accounting capabilities.
As the complexities of compliance continue to weigh heavily on the industry, drawing on experience from traditional financial markets, combined with innovative tech solutions like blockchain, will pave the way for financial fluidity and security.
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