Cannabis compliance technology platform Fyllo is expanding into the cryptocurrency vertical.
The Fyllo Regulatory Database is available across the U.S. to help businesses ensure their current and planned cryptocurrency products are compliant in the constantly changing, complex and often ambiguous regulatory environment.
This database serves compliance leaders in the cannabis sector, including MSOs, law firms and entrepreneurs and will now provide the same view of regulatory activity for cryptocurrency helping users to identify and take action against compliant, data-driven growth opportunities with speed and scalability.
“Since launching in 2019, Fyllo has rapidly expanded to address the cannabis industry’s need for compliant marketing solutions and jurisdiction-level regulatory solutions,” stated Chad Bronstein, CEO and founder of Fyllo. “With similar challenges and high-growth opportunities present in the cryptocurrency vertical, expanding our Regulatory Database to serve them is a natural evolution of the business.”
A recent Harris Poll study commissioned by Fyllo found that almost half (46%) of respondents reported compliance/regulation as one of the biggest barriers to achieving their current business goals. However, the unique and immediate opportunities in cryptocurrency have pushed many operators to take a high-risk approach to growth, with over 4-in-5 (85%) agreeing that their company is willing to release a new product/service even if policies and regulations that may impact the product/service are not finalized yet.
The Fyllo Regulatory Database for cryptocurrency addresses the needs of organizations with this unique challenge, allowing them to scale rapidly with access to information they need to prepare themselves for disruptive compliance infringements. Automated alerts can be set up through the database, notifying users if something changes, enabling them to spot trends and filter through information faster. The platform will be available through a SaaS self-service model, providing instant access to the latest regulations.
Bronstein concluded, “Fyllo is building the technology and solutions that will enable companies to thrive in the new economy. Crypto and cannabis are just the beginning, as we see applications across many of today’s growth sectors.”
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