Massachusetts legalized the medical use of marijuana in 2012, and in November of 2016, the state legalized the adult-use (21+) of cannabis. Two years later, in 2018, the Bay State made history by opening the East Coast’s first marijuana stores for consumer purchasing of the plant and its by-products. 

At Confia, we understand the specific requirements, nuances, and regulations in the Bay State. Our team of experts is properly equipped to provide necessary services to the underbanked industries. We are proud to offer your business specifically tailored financial solutions to ensure you can focus on what’s important – the growth and development of your business. 

Understanding Your Unique Cannabis Landscapes 

In 2017, Massachusetts established the Cannabis Control Commission (CCC) to monitor the regulation of cannabis within the Commonwealth. The CCC is responsible for overseeing the medical and adult-use (i.e. recreational) markets. The Commission is meant to ensure the safe, equitable, and effective implementation of cannabis laws within the state while also honoring and representing the desires of Massachusetts voters. The CCC aims to engage in regular communication with stakeholders, including citizens, patients, healthcare providers, caregivers, and partners.

A familiar practice, Massachusetts distinguishes between medical and adult-use cannabis, with each sector boasting a different set of requirements. That being said, the CCC facilitates access to and regulatory compliance for both. 

Regulatory Compliance in the Bay State 

The CCC aims to engage in regular communication with stakeholders, including citizens, patients, healthcare providers, caregivers, and partners. A key goal of the CCC is to foster a diverse and inclusive cannabis industry by promoting the participation of businesses of every size. Licenses cover various sectors of the cannabis industry, including cultivation, creating marijuana cooperatives,  product manufacturing, retail, research facilities, independent testing laboratories, transport, and microbusinesses. No matter the cannabis related business (CRB) you operate, Confia has the skills, experience, and knowledge necessary to ensure your find success. 

The CCC ensures a safe and equitable market for both industry and consumer and solidifies the Bay State’s dedication to business compliance and safety for businesses and their clientele. We at Confia are proud to acknowledge that, with the help of our financial services, your CRB can comply with state regulations while providing quality products to your consumers. Confia can aid your business in complying to Massachusetts and CCC legislation and regulations. 

Optimizing Your Business with Confia 

Confia sets a new standard in financial services, offering a wholly customizable commerce platform designed specifically for the diverse needs of underbanked industries, such as the cannabis industry, and businesses in the state of Massachusetts. 

Our services include:

• • • Checking and savings accounts
    • Online commerce platform access
    • Payroll assistance
    • ACH payment and origination options
    • Wire services

As Massachusetts continues to navigate the complexities of cannabis legislation and regulation, our team is dedicated to tackling the unique challenges faced by those in the state. Our team is equipped to offer superior financial support and strategic insights to help grow your business in the state of Massachusetts. From FDIC-eligible accounts and expanded payment options to compliance assurance, Confia has the tools required to navigate the distinct regulatory landscape of your environment and take your business to the next level.