CCI - What is the eXPO™ App?
eXPOTM The eXPO™ App on Apple and Android converts cash, credit cards/debit cards, ACH and wires to a mobile currency. The App contains a QR code that allows approved POS systems to accept payment via a scanner and allows users to perform banking functions.
CCI - Can your platform be used in both non-legal and legal medical and recreational states?
eXPOTM eXPO™ allows licensed businesses to utilize the App. functions.
CCI - Would your platform in the eyes of the federal government be considered aiding and abetting marijuana?
eXPOTM eXPO™ is registered by FinCEN as a financial institution. On February 14, 2014 FinCEN issued a guidance to clarify how financial institutions can provide services to marijuana related businesses consistent with their BSA obligations. In general, the decision to open, close, or refuse any particular account or relationship is made by each financial institution based on a number of factors specific to that institution. These factors may include its particular business objectives, an evaluation of the risks associated with offering a particular product or service, and its capacity to manage those risks effectively.
Thorough customer due diligence is a critical
aspect of making this assessment.
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