Amercanex, the American Cannabis Exchange, will begin offering ACEpay, a treasury and cash management system that allows ACE Marketplace participants to deposit cash as well as pay their bills, payroll and taxes in compliance with local regulations.
Participants will also be able to accept payments from within and outside the cannabis industry. The exchange says ACEpay funds are fully secured, insured and held at top tier banks and financial institutions, giving participants comprehensive access to ancillary financial services from many other third parties.
In addition to ACEpay, Amercanex is now offering seed to sale tracking software with administrative, plant and inventory management, security, compliance and accounting capabilities. This software, which includes Point of Sale (POS), Radio Frequency Identification (RFID) and geotracking services, allows government regulators to verify and collect taxes when combined in action with the ACE Marketplace.
“We are the only marketplace offering these combined services to our members,” said Steve Janjic, Amercanex Chief Executive Officer. “This is a groundbreaking step for the cannabis industry, which has faced multiple hurdles in obtaining corporate banking accounts.“
All Amercanex transacting members are eligible for these seed to sale, treasury and cash management services. The exchange assures that these end-to-end commerce solutions will give American state and local level government regulators, as well as Amercanex stakeholders, the ability to conduct cannabis-related business confidently and effectively.
“Our full business cycle solution allows our cannabis market participants to conduct financial transactions safely and securely, with clear transparency,” said Amercanex Chairman Richard Schaeffer.