Adam | Bxnk

One thing nobody tells you about building a startup in a regulated industry: ➡️half your time goes to understanding the rules ➡️a quarter goes to building ➡️the rest goes to explaining to people that yes, this is legal, just solving a huge problem

The reason cannabis can't get banking isn't really about risk. It's about liability. Banks aren't scared of cannabis money. They're scared of being the one holding it when a regulator asks questions. The incentive structure is broken.

Cannabis operators: what percentage of your revenue goes to payment processing fees? Genuinely curious how much variance there is state to state.

Talked to a distributor who had $180K frozen for 3 weeks because his bank 'flagged suspicious activity'. He's fully licensed, state compliant, been operating 4 years. The suspicious activity was receiving a payment from another licensed business.

The GENIUS Act made stablecoin payments a regulated payment rail in the US. Settlr is building on that rail for industries where traditional processors keep failing, starting with cannabis wholesale. Same-day settlement. 1% fees.

Spent this week talking to distributors in California about how they handle wholesale payments. The answer is mostly "badly." One guy told me his processor got shut down twice in 18 months. Had to re-onboard his entire operation each time. Lost two weeks of sales. That's the actual problem. It's not that digital payments don't exist, it's that they keep disappearing

The cannabis industry does $34B in annual sales but still can't get a basic checking account at most banks. We send money to all types of places but can't figure out how to let a legal business accept a payment.

Let’s all help each other here!

What's the biggest headache running a cannabis business that nobody outside the industry understands?

Cannabis distributors are paying 2.5–4% to high-risk payment processors. On $500K/month in wholesale, that's $150K+ a year just to move your own money. And it can all disappear overnight. There's a better way. We're building it @SettlrP

one thing i keep coming back to: operators don’t need another dashboard they need money to land faster

more legal markets, more demand, same old payment problems that mismatch is still massive

fast payment isn’t the feature control over cashflow is

Positioning where Settlr fits best but it’s increasingly obvious this is about shortening time-to-cash

every positive cannabis headline should raise a second question: what does this change operationally for businesses?

if your buyer gets net terms and you get delayed cash, you’re carrying the burden

interesting how many operators have just accepted slow settlement as part of the industry