The Banking Opportunity in the Legal Cannabis Industry: A New Leaf for Banking

As the drive to cannabis legalization gathers steam, many major institutions are keeping a safe distance.

Boston, January 9, 2019 – As public attitudes and legislative positions toward cannabis have changed over the past 20 years, growing numbers of countries and regions have moved away from outright prohibition and toward some form of legalization. While financial service providers that can navigate this rapidly changing landscape have the potential for significant revenue growth, the specific role that financial services can play in this emerging sector remains extremely complex and continues to hold pitfalls.

This report provides a snapshot of the current state of the legal cannabis industry in the U.S. and Canada, and highlights some of the challenges and opportunities facing potential financial service providers. It is primarily based upon publicly available data sources.

This 20-page Impact Note contains six figures and one table. Clients of Aite Group’s Institutional Securities & Investments, Wholesale Banking & Payments, or Retail Banking & Payments service can download this report, the corresponding charts, and the Executive Impact Deck.

This report mentions Altitiude Investment Management, Altria, American Express, Aphria, Arcview Group, Aurora Cannabis, Barclays, BMO, Budding Equity Asset Management, Canopy Growth, Canopy Rivers, CIBC, Constellation Brands, Cronos Group, ETF Managers Group, Green Acre Capital, Interac, Mastercard, Merrco, National Cannabis Industry Association, Naturepay, Navy Capital, Partner Colorado Credit Union, Payfirma, RBC, Safe Harbour Private Banking, Scotiabank, Serruya Private Capital, Shopify, Spectrum Cannabis, TD Bank, Tilray Group, and Visa.

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