- REZYFi, Inc. is a real estate-oriented mortgage company servicing the needs of both traditional and non-traditional consumers and businesses
- The company operates through its two subsidiaries, REZYFi Lending, which is now focused on cannabis commercial real estate lending, and ResMac, Inc., a traditional mortgage origination, correspondent, and servicing business
- REZYFi seeks to provide access to financial services to the cannabis industry, which is still largely underserved because large financial companies have continuously shied away due to the illegality of cannabis at the federal level
- The US cannabis industry is expected to generate $52.6 billion in sales by 2026, up from an estimated $33 billion in 2022, figures that make it possibly the largest underbanked industry in the country
As of May 2022, 19 states, the District of Columbia, and two US territories – Guam and the Northern Mariana Islands – had legalized the recreational use of marijuana among adults, according to the National Conference of State Legislatures (https://cnw.fm/qeaSh). But federally, the possession and use of cannabis are illegal, as per the Controlled Substances Act of 1970 (“CSA”). And as a Financial Times (“FT”) article reports, cannabis companies had long been caught in the gap between state and federal law.
“With top US banks such as JPMorgan Chase (NYSE: JPM) and Wells Fargo (NYSE: WFC) and payment companies including Visa (NYSE: V) and Mastercard (NYSE: MA) adhering to federal law, they have opted out of serving cannabis companies,” the FT article reads (https://cnw.fm/8Ic9H). This had long starved…
NOTE TO INVESTORS: The latest news and updates relating to REZYFi are available in the company’s newsroom at https://cnw.fm/REZY
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