Cannabis Bank

The new Guam’s cannabis bank is a milestone in America. Guam, a U.S. territory in the western Pacific, has taken a significant step forward in its cannabis industry. It now has a new local bank opening. This development marks a pivotal moment for Guam's cannabis businesses, which have long faced banking challenges due to federal regulations. Background on Guam’s Cannabis Industry Guam legalized medical marijuana in 2014, followed by adult-use cannabis in 2019. However, despite these legalization efforts, cannabis businesses on the island have struggled to access banking services. This has forced many businesses to operate on a cash-only basis,...