Founded in 2016, Tokken grants online banking privileges to cash-intensive industries like cannabis, safe payment methods to consumers, and a robust compliance platform to partner banks. CEO Lamine Zarrad was inspired to create Tokken after noticing inefficiencies while working as a bank regulator in Colorado. These industries need access to banking in order to grow, and customers want a private and safe way to purchase products without always relying on cash. Banks are concerned about evolving state and federal regulations and eager to avoid the inherent risk of money laundering associated with these industries. Tokken eliminates the risk of money laundering by creating a virtual barrier to cash transactions. Using an indelible Blockchain ledger to ensure data integrity and a proprietary compliance program based on structured analytic techniques, Tokken is designed to comply with every relevant regulatory requirement and provide a sustainable banking solution for cannabis and other businesses.
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