Medical Marijuana, Inc. is leading by example as it fosters growth and opportunity in the rapidly expanding cannabis industry. This week, its subsidiary, Wellness Managed Services’ MPS International (MPSI), is proud to announce its alliance with CannaNative, LLC. Both companies are featured in headline news articles: Bloomberg’s Where to Stash Cannabis Cash? Tribal Nations Make Bid to Bank It and Yahoo News’ article Colorado’s monthly marijuana sales top $100 million.
The Bloomberg article, which was picked up by Fortune magazine and Time.com, references “casinos a model for handling $3 billion in industry revenue.”
Michael Julian, Chief Executive Officer of MPSI, explains the current state of banking in the Bloomberg article, “The federal government and these banking laws are making it so that people have to walk around with tens of thousands of dollars in their businesses, in their cars, in their homes, putting these people in danger.”
“MPSI is proud to share our knowledge of and experience in the cannabis industry with tribal nations that choose to align with CannaNative,” Julian states. “We feel that tribal nations have the blueprint – and many have a proven track record – to successfully handle the significant intake of cash from the rapidly growing cannabis industry.”
MPSI is a well-established cannabis consulting and security firm that offers mission-critical solutions including armored transport of inventory and cash. The Company’s 47-year experience in the security industry, coupled with the proven track record of serving cannabis-based businesses since January 2014, led to securing a partnership with the Native American cannabis advisory group CannaNative.
Julian went on to say that in the article that he is aware of companies spending $150,000 to build their own high-tech vaults for cash storage. While this poses a temporary solution for cash storage, many cannabis retailers need a secure way to revenue from storefronts to the vaults.
“Tribal banking represents a much-needed service offering that could ultimately provide a solution to the entire U.S. cannabis industry,” Julian concludes.
Industry-specific services provided by MPSI include: armed and unarmed security for retail and grow operations, electronic security and surveillance, armored and low-profile vehicle transport of inventory and cash, compliance oversight, and workplace protection for medical and adult recreational use.