The Weekly Dispense: Cannabis drives banking innovation

The cannabis industry is driving innovations in banking, a new study indicates cannabis may be a viable treatment for mental health, and California’s Prop 64 is helping reduce criminal penalties for cannabis possession.

In case you missed them, here are the cannabis-related stories that caught our attention.

Cannabis spurs new banking models

The rapidly evolving cannabis industry is breathing new life into the financing space, creating opportunities for entrepreneurs to create new banking solutions. “Cannabis presents a risk that banks cannot account for and analyze effectively,” Lamine Zarrad, who heads payment company Tokken, said on a recent episode of The Cannabist Show. Zarrad discusses how cannabis businesses are spurring new innovations in banking.

Read more How the cannabis industry could act as a catalyst for the evolution of our stagnant banking system

Study: cannabis may help treat mental health, alcoholism

Cannabis may help with symptoms of depression, PTSD, and social anxiety, a new study from the University of British Columbia suggests. “[The] team reviewed all studies of medical cannabis and mental health, as well as reviews on non-medical cannabis use — making the review one of the most comprehensive on the topic to date,” reports Science Daily.

Read more Marijuana could help treat drug addiction, mental health, study suggests

Canadian stock market spikes green

Cannabis stocks tripped a circuit breaker on the Toronto Stock Exchange (TSX) on Wednesday morning due to a sudden jump in activity. Breakers are tripped when a stock increases more than 10 percent in five minutes. “At the moment, it is unknown what caused the sales to skyrocket like they did on Wednesday morning but, in general, stocks in marijuana companies have been going up—even more so since seven new states voted in favour of legalizing weed for recreational uses,” reports Vice.

Read more Weed Broke the Canadian Stock Market

Prop 64 reduces criminal charges

With the recent passage of California’s Proposition 64, cannabis consumers in the state are already starting to benefit from a change in rules. Some cannabis offenses that were once a felony are now a misdemeanor, reports Southern California Public Radio.

Read more Californians are already having their marijuana charges downgraded

Cassandra Dowell

Cassandra oversees communications for Revolution Enterprises, a company committed to cultivating health through the science of cannabis. Prior to joining Revolution, Cassandra covered complex financial transactions and business trends within the cannabis and healthcare industries. During her time as a Chicagoland newspaper editor, she received more than 10 Illinois Press Association and Northern Illinois Newspaper Association awards for her coverage of mental health and housing issues.