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FOR IMMEDIATE RELEASE

 

C MONEY PARTICIPATES IN CANNAVEST AFTER CLOSING A ROUND OF FUNDING TO FUEL ITS CANNABIS MONEY ECOSYSTEM

 

OAKLAND, CALIFORNIA—(December 13, 2021) C Money is proud to be a sponsor of the Emerging Markets Coalition (“EMC” https://emcoalition.org) at this year’s CannaVest West [https://cv.thecannabisindustry.org]. C Money’s sponsorship coincides with a key milestone in the company’s progress: a pilot with Yerba Buena Logistics Services (https://www.yerbabuenalogistics.com), the largest California family-owned and -run cannabis distribution firm.

 

The Oakland, California-based payments company is uniquely positioned in the cannabis payments industry. C Money owns its own prepaid payment processor to support the consumer and commercial infrastructure for its cannabis money ecosystem. The C-Money platform brings much-needed safety and compliance for payments in the cannabis marketplace

 

“We are a top innovator in this market as a core processor in issuing cards and app-based prepaid programs,” said Dwayne Jones, C Money’s Founder and Interim CEO. “Our system is built to be ready for when the major card brands can open up to cannabis nationally.  C Money’s proprietary closed loop payment processor will offer a a compliant and legal payment to be used at the consumer level within cannabis stores participating in our Cannabis Money Ecosystem Nation wide. And we will be ready to flip the switch and offer b2b pre-paid network branded programs when the federal regulatory environment allows and the major brands have signed off on participating in the Cannabis industry.

 

C Money’s pilot with Yerba Buena Logistics Services will bring C Money‘s closed loop prepaid payments solution to customers throughout California in 2022.

 

"We are excited about our partnership with C Money and about what our collaboration means for our business as well as the industry,” says Yerba Buena Logistics Services CEO Mike Zumbo. “Our pilot will demonstrate the way the cannabis money ecosystem should work, needs to work, and will work to the benefit of all participants.”

 

The importance of a payments platform like C-Money has been widely acknowledged. 

 

“There is certainly a need for safe, secure and compliant payments in the legal cannabis space,” says Judith Rinearson, a partner at global law firm K&L Gates who concentrates her practice on emerging payments. “The C Money team understands the complexities involved, as they have taken on this important role.” 

 

For more information, contact Eric La Brecque at (323) 578-7875.

 

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FOR IMMEDIATE RELEASE

 

C MONEY CO-SPONSORS “EMC 420 FINANCIAL FORUM” IN THE RUN-UP TO THE 2021 CANNAVEST WEST SUMMIT AND EXPO
 

OAKLAND, CALIFORNIA— (December 13, 2021) C Money, a founding member of the Emerging Markets Coalition (EMC), is also co-sponsoring EMC’s “Pot, Payments, Politics” forum event on 15 December, the evening before NCIA’s Cannabis Business Summit & Expo 2021 kicks off at San Francisco’s Moscone Center.

 

EMC 420 Financial Forum will present discussions with key industry leaders and experts regarding how financial services businesses can work with the fast-growing cannabis industry. C Money is co-sponsoring the event together with K&L Gates, a leading law firm focused on developing legal, regulatory and compliance solutions for the industry.

 

EMC will be present throughout CannaVest. C Money will join other EMC members during the event to discuss the latest developments in payments and other financial services for the cannabis industry.

 

C Money’s presence comes at a milestone moment for the Oakland-based payments company. According to C Money Founder and Interim CEO Dwayne Jones, the company earlier in 2021 secured the pre-seed round of funding necessary to acquire its own processor and create the infrastructure for its unique, issuer-centered closed-loop cannabis payments ecosystem.

 

“Cannabis has been cannibalized by bad payments and bad promises,” adds Jones. “We are pleased to be a force for change that will enable the industry to grow to its full potential.”

 

Jones, a payments industry pioneer, founded one of the industry’s first prepaid network branded prepaid card companies, The Best Present Company, in 1999, which evolved into a one-stop prepaid network branded solution provider, Springbok Services. He has played a leadership role in fostering the growth and reputation of the prepaid payments industry as a Founding Circle Member of the Network Branded Prepaid Card Association, now known as the Innovative Payments Association.

 

Through a variety of programs and events, EMC promotes financial transparency and accountability in the cannabis sector. The organization’s activities include countering misinformation that dissuades financial services companies from participating in the sector.

 

“EMC members come from a long history in other high risk markets, and have been successful in enabling other underserved markets to have full access to normalized financial services,” says Kirsten Trusko, Emerging Market Coalition’s CEO and Founder. „C Money is keenly aware that payments and banking have to be normalized for an industry that’s driven by cash.”

 

Trusko will be speaking at CannaVest West on December 17 on “Cannabis Financial Services: Banking, Payments & Payroll Solutions for Investments in the US.” 

 

EMC 420 Financial Forum will take place 4-6pm on December 15, 2021 at The Holy Cow, 1535 Folsom Street, San Francisco. For reservations or information, please contact EMC at support@emccoalition.org.

 

For more information on C Money, contact Eric La Brecque at (323) 578-7875.