Helix TCS teams with Dama Financial for world's first cannabis online integrated payment solution

Helix TCS Inc (OTCMKTS:HLIX) has entered into a strategic partnership with Dama Financial, a provider of banking and payment solutions to the cannabis industry. 

According to a statement on Wednesday, Dama Financial, through its bank partners, will facilitate the secure transfer of online payments and settlements within the Amercanex marketplace for wholesale cannabis.

Helix last month finalized its acquisition of Amercanex, a B2B wholesale marketplace that leverages blockchain technology and can facilitate wholesale cannabis and hemp transactions between licensed businesses.

READ: Helix TCS finalizes acquisition of Amercanex, a B2B wholesale marketplace that leverages blockchain technology

The agreement positions Dama Financial as the exclusive payment solution on the Amercanex platform and Amercanex as the only wholesale cannabis exchange using Dama Financial’s comprehensive suite of financial solutions. 

Dama Financial will provide access to checking, escrow and trading accounts to support seamless and secure financial transactions between marketplace users.

“At Helix TCS, we have always focused on providing fully compliant, transparent infrastructure solutions to the cannabis industry,” said CEO Zachary Venegas. “The Dama solution will allow cannabis businesses to transact like any other business would, and I’m proud to bring this first-in-class system to the industry.”

Dan Henry, CEO of Dama Financial, said his company is “thrilled to partner with HelixTCS to deliver the first true cannabis exchange” to the industry. 

“Amercanex will give these business owners the opportunity to maintain and grow their business operations online in a secure and legitimate way,” he added. 

Helix, based in Denver, is a leading provider of critical infrastructure services, helping owners and operators of licensed cannabis businesses stay competitive and compliant while mitigating risk. Its products reach over 2,000 customer locations in 38 states and seven countries and have processed over $18 billion in cannabis sales.

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Story by ProactiveInvestors