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Home 🌿 Marijuana Business News 🌿 As Marijuana Sales Grow, Start-Ups Step In for Wary Banks 🌿As Marijuana Sales Grow, Start-Ups Step In for Wary Banks
Counting out money for payroll at Good Meds Marijuana dispensary in Lakewood, Colo. Most marijuana businesses cannot get bank accounts, and must contend with large amounts of cash.
When Lamine Zarrad was not at his job as a federal banking regulator in recent months, he was spending a lot of time at Denver’s marijuana dispensaries.
As a federal employee, he could not partake of the pot.
He was there, instead, to pitch the shops on a start-up he has been working on in his free time and is making official this week after quitting his job as a bank examiner at the Office of the Comptroller of the Currency, a division of the Treasury Department.
Mr. Zarrad’s start-up, Tokken (pronounced token), is one of several recently created companies looking to solve one of the most vexing problems facing marijuana businesses in Colorado and several other states: the endless flow of...
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