The State of Washington recently gave marijuana dispensaries approval to accept bitcoin for cannabis sales. Now, thanks to a fintech startup called Posabit, a few cannabis merchants in Seattle are utilizing the decentralized currency in their business operations.The startup Posabit, a credit-card-to-bitcoin payment processor, has begun working with four Seattle dispensaries which sell marijuana. The pot shops working with the Posabit system include the Queen Anne Cannabis Company, Herb’s House, Greener Today, and three Uncle Ike’s locations. Posabit claims to give cannabis merchants and other brick and mortar stores an easier way to accept credit cards and bitcoin at any point of sale location. Furthermore, the company says using their digital processor reduces cash transactions, which can be a danger for cannabis dispensary employees.
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https://news.bitcoin.com/seattle-cannabis-merchants-accepting-bitcoin-pot-sales/
