Arizona-based Alt Thirty Six is using their new payment platform that combines cryptocurrency and blockchain technology to allow Arizona medical marijuana dispensaries to accept non-cash payments.
The tech startup recently acquired $10 million in venture capital funding.
“This new Series A funding round provides us access to the resources we need to help facilitate our vision for one of the fastest growing industries in the country,” said co-founder Ken Ramirez. “We are committed to revolutionizing the cannabis space by increasing access to compliant digital payments, making transactions easier and faster.”
Until banking issues are resolved for dispensaries, they will rely on new technology like Alt Thirty Six’s to help facilitate transactions.
Alt Thirty Six links their blockchain payment system with users’ bank accounts to facilitate secure transactions between customers and businesses.