- CurrencyWorks (CWRK) will service and provide technology for CaliCard’s cashless digital currency card
- The new offering includes a digital wallet that provides compliant banking and merchant services to consumer businesses
- CaliCard has been working with five major retailers as well as a number of cannabis dispensaries
- CurrencyWorks builds and operates fintech platforms for digital currencies, digital assets and security tokens
- CurrencyWorks (CWRK) is down 8.67 per cent and is currently trading at C$1.58 per share
CurrencyWorks (CWRK) will service and provide technology for CaliCard’s cashless digital currency card.
The new CaliCard is equipped with a digital wallet that provides compliant banking, digital payments and merchant services to consumer businesses including licensed cannabis retailers.
CaliCard has been working with five major retailers and both online and brick and mortar dispensaries on the offering’s cannabis payment functions. It is looking to launch with several hundred retailers across California in the near future, including restaurants, c-stores and more.
The offering will provide a seamless experience when checking out in store and online. Funds can be reloaded at time of purchase to settle a transaction or they can be kept in your CaliCard account, no different than a traditional checking account.
Account holders will also be assigned a physical card that can be used in-store, to access ATMs, as well as to facilitate online purchases. Consumers can also leverage the digital payment interface using the mobile app.
“After spending a year and a half in the cannabis industry experiencing first hand the challenges merchants and consumers face when it comes to banking and payment options, it was time to change the game,” said Christian Schenk, Founder and CEO of CaliCard.
“The CurrencyWorks team is a solid, longtime partner of mine and together with our Canadian based fintech partnerships we have established an incredibly disruptive offering that will most certainly have an impact on the industry, especially given our early stage launch partners’ participation,” Schenk added.
CurrencyWorks builds and operates fintech platforms for digital currencies, digital assets and security tokens.
CurrencyWorks (CWRK) is down 8.67 per cent and is currently trading at C$1.58 per share as of 11:44 am EST.
