Adam | Settlr

I'm Adam, the founder of @SettlrP Banks keep freezing accounts for real businesses (cannabis, CBD, freelancers, you name it). I built Settlr so you can pay anyone, anywhere with just their email. Instant USDC on Solana • 1% flat fee • No wallet addresses • No bank details • No more frozen payouts settlr.dev What’s the biggest payment headache in your industry right now?

Cannabis founders: if you could wave a magic wand and fix one thing about your supply chain, what would it be?

The cannabis industry is going to skip an entire generation of financial infrastructure. Same way Africa skipped landlines and went straight to mobile payments. When the existing system won't serve you, you don't fix the system. You go around it.

Something I've learned building in cannabis: operators don't care about your technology. They care about whether you understand their problems. If you can't explain what 280E does to their cash flow in plain English, they're not interested in your product.

Cannabis businesses spend more on compliance than most tech companies spend on their entire legal team. And then they still can't open a bank account. The system isn't broken for them, it was never built for them.

Building in cannabis tech. What accounts should I be following? Looking for operators, not media companies.

What would change about your cannabis business overnight if you could get paid instantly on every wholesale order? No 30-day wait, no processor fees above 1%.

If you read the GENIUS Act closely it doesn't just legalise stablecoins. It creates a compliance framework that's actually stricter than what most banks do today. Full reserves, audits, consumer protections. This isn't the wild west, it's the opposite.

Monday thought: the cannabis industry has some of the most resilient operators I've ever spoken to. These people have had their bank accounts frozen, their businesses raided, their partners walk away, and they're still building. That energy is contagious.

Trying to figure out where you went wrong building that IKEA cupboard

@legendsdotfun Building @SettlrP Helping the cannabis industry bank freely

If you’re building in this bear market We want to remember you were What are you working on? Comment below 👇

@JSchultz44 This is a great addition. The liability exposure makes banks cautious, and then when they run the numbers on SAR filing overhead vs cannabis account revenue, it doesn't pencil out either

I’d say the primary reason most banks won’t touch cannabis is a pure P&L judgment. The bigger the bank, the less likely they enter the space. Why? Because the cannabis industry is small - in most cases, too small to justify the additional cost and expense of heightened AML compliance that comes with servicing cannabis under current law. From added layers of KYC, to needing to constantly file SARs for normal course transactions, the fee revenue doesn’t justify the additional middle office cost of compliance. Another reason we need the BSA amended and revised FinCEN guidance.

The reason cannabis can't get banking isn't really about risk. It's about liability. Banks aren't scared of cannabis money. They're scared of being the one holding it when a regulator asks questions. The incentive structure is broken.

@dougwilsoncpa The cost vs benefit point is spot on. Do you see that math changing at all with SAFE Banking or similar reform, or is it basically stuck until descheduling?

@adsoldev Big banks won’t touch it because of the federal illegality. For small banks, the costs to stand up and maintain a regulatory-compliant cannabis banking program exceed the financial benefit of doing so.

Hot take: the cannabis industry's banking problem won't be solved by banks. It'll be solved by making banks optional. The technology for this already exists. The regulatory framework is catching up.

A cannabis distributor told me he keeps 3 separate bank accounts at 3 different banks because he knows at least one will get frozen every year. That's not a business strategy. That's a survival tactic.

Shipped a new feature this week that lets operators send an invoice and get settled in seconds instead of days. Still on testnet but watching it work in real time is the first moment this felt real

The gap between state legal and federally legal is where cannabis businesses bleed money. 280E taxes they can't deduct. Processors that charge 2.5-4% because they know you have nowhere else to go. Banking relationships that disappear overnight. The infrastructure isn't broken, it was never built for you in the first place

Every cannabis wholesaler I've spoken to has at least one horror story about a frozen account. Every single one. That's not a bug in the banking system, that's the system working exactly as designed.

One thing nobody tells you about building a startup in a regulated industry: ➡️half your time goes to understanding the rules ➡️a quarter goes to building ➡️the rest goes to explaining to people that yes, this is legal, just solving a huge problem

Cannabis operators: what percentage of your revenue goes to payment processing fees? Genuinely curious how much variance there is state to state.