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Arizona Adds Marijuana Project to Sandbox

Saturday, Aug 03 2019

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Written by FinTech News Brief Staff

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Arizona Adds Marijuana Project to Sandbox

According the Arizona Attorney General's Office, a stablecoin-based marijuana project will be developed in the state's fintech sandbox. So reports Coindesk.

Alta has become the seventh startup to enter the state's experimental arena and is hoping to address the banking needs of the state's $350 million marijuana industry, as federal law prohibits banks from servicing pot companies. "State regulators believe Alta’s dollar-pegged-stablecoin and payment network provide such an alternative in addition to a healthy candidate for fintech development," the article notes.

Read the full article from Coindesk.

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