How Square’s Could Profit From the Marijuana Boom
Square (NYSE: SQ) is one of the leading payment services providers in the world, and it's constantly looking for opportunities to expand. For instance, the tech company is trying to transform Cash App -- its person-to-person payment app -- into a proxy for a bank account. Square also recently entered the e-commerce segment by offering merchants the option to sell their products through customized digital storefronts.
But perhaps one of the more intriguing moves Square made recently is to allow sellers of cannabidiol (CBD) products to have payment processing capabilities.
CBD is a chemical cousin of THC, the psychoactive ingredient in marijuana that gives users a high. The legal landscape surrounding CBD and related items is still very much a work in progress, and companies selling CBD products have to deal with complex technical and regulatory details.
Source Fool.com
