Some Washington Marijuana Outlets Now Accepting Bitcoin, Have State Approval
According to Bitcoin.com, several cannabis outlets in Seattle are now accepting the cryptocurrency for marijuana sales. These outlets have approval from state officials.
Two months ago Bitcoin reported on Washington State giving marijuana outlets approval to accept Bitcoin for cannabis sales. Now, thanks to a startup called Posabit, a credit-card-to-bitcoin payment processor, multiple cannabis outlets in Seattle are accepting Bitcoin for those purchasing marijuana and marijuana products.
Posabit gives cannabis merchants and other brick and mortar stores an easy method of accepting credit cards and Bitcoin at any point of sale location. The system allows users to purchase Bitcoins with a credit card and use them to purchase goods from a cannabis location with a Posabit kiosk. The company says using their digital processor reduces cash transactions, which can be a danger for employees of marijuana businesses.
The cannabis outlets currently accepting Bitcoin in Seattle are; Queen Anne Cannabis Company, Herb’s House, Greener Today, and also three Uncle Ike’s locations.
The Posabit system is fully compliant with KYC, AML, and also OFAC regulatory guidelines,
