In partnership with CERES Coin, a stablecoin and the centerpiece of the CERES blockchain network, CERES serves as a compliant, transparent store of value and medium of exchange. The CERES network can track the chain of custody and all information associated with each transaction throughout the entire seed-to-sale lifecycle.

Banking Regulations

The most significant consequence of the conflict between local regulations and federal law in the cannabis industry is that legalized companies are not able to access the federal banking system. As a result, cannabis businesses are, for the most part, cash-only enterprises. This makes it difficult to get initial funding, manage employee salaries, procure loans for expansion, and manage the day-to-day operating expenses of the business.

A Looming Danger

Because cannabis businesses are cash-only, the $50 billion marijuana industry is rife with stories of business people hauling duffel bags filled with cash, leaving them as sitting targets for robberies. Steve Deangelo, the CEO of Harborside Health, one of the largest cannabis businesses in the United States, said, "There are thousands [of cannabis businesses] in the United States now, and all of them are carrying around tens or hundreds of thousands of dollars in cash. If something isn't done to change the situation, it's, in my opinion, just a matter of time before we see a tragedy." CERES Coin is a secure, auditable peer-to-peer method for financial transactions in the legal medical and adult-use cannabis industry.

CERES Coin provides a peer-to-peer methodology for conducting secure, auditable financial transactions in the legal medical and adult-use cannabis industry