Cannovia CEO Weighs in on CBD and the Banking Industry

Brian Baum was pulling up to the Dallas-Fort Worth International Airport on March 19 when he got an email alert: His merchant services account had been terminated. The CEO of hemp-derived CBD product manufacturer Cannovia tells Cannabis Business Times that Evalon’s abrupt message forced him and his team into damage-control mode. They weren’t alone.

“Fortunately, the industry itself—CBD and the cannabis industry—is a pretty tight community,” Baum says. “We, of course, very quickly started looking into: What are the alternatives? How do we move forward?”

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