CannaNative recently partnered with cannabis industry’s premier security firm, MPS International (MPSI), which will handle the management and protection of cash revenue from our partnering tribes’ and cannabis businesses nationwide.
In CannaNative’s continued effort to help our partnering tribes establish and regulate profitable cannabis-based economies, we’re proud to announce we have joined forces with the leading security and logistics firm in the cannabis industry, MPS International (MPSI). In the exciting two-part agreement, tribes partnering with CannaNative will have the benefit of MPSI’s security services and other cannabis organizations throughout the United States will be able to safely protect and manage their funds through banking systems offered on tribal lands.
Bloomberg Business ("Where to Stash Cannabis Cash? Tribal National Bid to Bank It") and Yahoo! News ("Colorado's monthly marijuana sales top $100 million") recently covered the CannaNative and MPSI alliance. Fortune Magazine and Time.com ("Tribal nations may want to stash your marijuana cash") picked up and covered the Bloomberg article.
In the new partnership, CannaNative-participating Native American tribes will be able to have their cash revenue transported and managed safely through MPSI. Nearly all federally-regulated banks refuse to manage money from cannabis businesses since marijuana continues to be illegal on the federal level. As a result, most cannabis businesses are left with large sums of cash and no bank to manage it, eliciting serious security concerns. MPSI offers security solutions, including armored transport of cannabis inventory and cash.
In addition, the partnership will allow other cannabis businesses in the U.S. left without traditional banking service to manage and store their earnings through an American Indian banking system. CannaNative is actively linking finance professionals and legal cannabis businesses with tribal leaders from 566 sovereign American Indian nations. With CannaNative providing management services and the American Indian nations using the expertise they’ve gained from years of managing casinos, tribes will set up financial institutions for businesses in the booming marijuana industry.
“The Indian casinos are basically small little banks,” CannaNative partner Anthony Rivera recently told Bloomberg Business. “They receive deposits in the form of gaming, and they manage that cash in a way which is highly regulated with commissioners and regulators."
"MPSI is proud to share our knowledge of and experience in the cannabis industry with tribal nations that choose to align with CannaNative," Michael Julian, Chief Executive Officer of MPSI states. "We feel that tribal nation have the blueprint - and many have a proven track record - to successfully handle the significant intake of cash from the rapidly growing cannabis industry."
The CannaNative and MPSI partnership was also recently covered by media outlets Cannabis Business Times, Morning Star, Weed Worthy, Republic Buzz, Yes We Cannabis, Weed Bay, and Omni Feed. In addition, Indian trade publications Pechanga,net, Indianz.com, and Red Lake Nation News published features on the alliance.