SHF Holdings, Inc Announces the Launch of Interest-Bearing Commercial Deposit Accounts to Cannabis Businesses Nationwide
July 12, 2023 at 08:00 am
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SHF Holdings, Inc. announced the launch of interest-bearing commercial deposit accounts to cannabis businesses nationwide. This new product offering was launched in response to an unmet need in the industry, as many of the smaller banks and credit unions servicing the cannabis industry do not currently make interest-bearing products available to these clients. Offered through one of Safe Harbor's proprietary financial institution partnerships, this new account product will provide depositors the opportunity to earn interest income with no maximum balance limitation.
SHF Holdings, Inc. is a service provider to offer compliance, monitoring, and validation services to financial institutions, providing traditional banking services to cannabis, hemp, cannabidiol (CBD), and ancillary operators. Its services include regulatory compliance consulting and software for maintaining Know Your Customer (KYC) and Bank Secrecy Act (BSA) compliance to financial institutions, principally conducted vis-a-vis its financial services platform; the origination, onboarding, verification, and servicing of cannabis-related deposit business for and on behalf of its partner financial institutions; and sourcing, underwriting, servicing, and administering loans issued to cannabis businesses and related entities, which are often also its customers, as well as being customers of its partner financial institutions. Through the Companyâs platform, its financial institution clients can provide cannabis-related businesses (CRBs) with access to traditional financial services.
SHF HOLDINGS, INC. 
