With technology and compliance, legal cannabis advances in the US and Brazil supported by pioneering financial solutions
While in the US strategic partnerships ensure stability and compliance, in Brazil WEpayments stands out by facilitating payments in reais and integrating the entire chain with technology and security
In a sector still marked by stigmas, legal uncertainty, and serious banking restrictions, joining forces can make all the difference. It is with this spirit that the fintech Safe Harbor Financial (Nasdaq: SHFS) and Würk, a reference in human capital management (HCM), announced the expansion of a strategic partnership aimed at one of the biggest challenges in the cannabis industry: access to reliable, scalable, and compliant financial and HR services.
The collaboration establishes a mutual referral program between the two companies, with the goal of connecting digital financial management solutions and specialized services in payroll, tax compliance, and timekeeping, all designed for the highly regulated and often hostile banking operation environment of legalized cannabis in the United States.
In practice, Safe Harbor will start recommending Würk as the official provider of HR solutions for its clients, while Würk will introduce the fintech's financial services as a secure bridge for companies still facing obstacles in their relationships with traditional banking institutions.
"By 2023, seven out of ten cannabis companies pointed to lack of access to banks or capital as the biggest obstacle to growth and with Safe Harbor, we can connect our clients to resources that previously seemed inaccessible," highlights Deborah Saneman, CEO of Würk.
With over a decade of experience in the sector, Safe Harbor has already processed over $25 billion in deposit transactions, operating in 41 states with regulated markets. Würk has established itself as a strategic partner for cannabis companies, offering a robust platform to handle sensitive aspects of any business operation: people management and compliance with legal obligations.
Although not exclusive, the partnership has a clear focus: professionalizing the cannabis industry with solutions adapted to its reality. "We are talking about a purpose-driven collaboration: ensuring that industry operators can grow with confidence, compliance, and lasting support. Combining access to capital with effective people management tools is an essential step for a sector that increasingly needs structure and professionalism," says Terry Mendez, CEO of Safe Harbor.
Another differentiator of the initiative is the support also provided to sector workers, who often face difficulties in opening personal bank accounts, even in states where cannabis is legal. The proposal is to act broadly in the ecosystem: from the company to the employee, with legitimate and transparent solutions.
In Brazil, an idea emerges as a "bridge" between innovation, legality, and efficiency
While the North American market consolidates strategic alliances to overcome operational barriers, in Brazil a fintech has also stood out for facing and solving similar challenges. Fernanda Rachel Zago, founder of the platform WEpayments, explains that offering payment and exchange solutions designed especially for companies operating with cannabis and derivatives, such as CBD, was an opportunity she saw in the market. "When you understand the other's pain, you can create something that truly transforms," summarizes Fernanda.
With over 15 years of experience in international payments, she created WE with the purpose of breaking the bureaucratic and technological barriers that still hinder the sector.
The proposal is bold: allowing international companies to process payments in reais with Pix, boleto, or installment credit card, as if they were local operations, all within the legal framework and with an infrastructure directly connected to the Central Bank. "Our focus is not to circumvent taxes, but to operate within what is legal, optimizing processes and reducing costs," emphasizes Fernanda.
The emerging tech company already serves global players, enabling the repatriation of funds to the companies' headquarters in the currency of their choice. The team's technical knowledge and mastery of the regulatory framework make WE not only a payment processor but a true strategic consultant for those looking to scale in the Brazilian cannabis market.
The platform continues to innovate: it is already possible to integrate it with WooCommerce, a popular e-commerce system, with a functionality that verifies the mandatory documentation right at checkout, offering greater agility in the process, increasing legal security for both sellers and buyers. In the coming months, the fintech will launch Biometric PIX, combining payment and identity validation through facial recognition. Also planned is the operation of foreign exchange with its own position, which should further reduce the costs of international transactions.
Facing the impact of the new tariffs imposed by the Trump administration on imports from countries like China and Mexico, Fernanda sees emerging opportunities for Brazil: "With the increase in logistical costs in other countries, the Brazilian market tends to become a more attractive alternative. This can accelerate investment in local networks of doctors, distributors, and consumers," evaluates the CEO.
With information from GlobeNewsWire.