Blue Line Protection Group Inc (OTCMKTS:BLPG) has moved ahead to make the announcement regarding the partnership is striking with Hypur. The agreement will witness Blue Line expand into five more states with money service business (MSB) markets and marijuana-related businesses and that will be in the coming 12 to 14 months.
A person familiar with the most recent developments in the company said, “Blue Line has become the key provider of independent, third-party compliance investigations, armored transportation and cash processing for financial institutions banking the legal cannabis industry, with 10,000 client locations serviced and $400 million processed in 2017.”
Hypur focuses on the provision of, on-demand ID verification, electronic payments, enhanced due diligence software that utilizes level 3 data as well as the digital document management. Through the combination of Hypur’s technology and Blue Line’s services it will be possible for businesses and financial institutions in Oregon, Arizona, California, Washington and Nevada to take advantage of a one-stop cash transportation system to come up with an elaborate chain of cash.
Blue Line’s CEO Dan Allen asserted that as company they were optimistic that the new collaboration with Hypur will move along way providing transactional, cash processing and compliance services to the large number of customers. According to him the partnership will be leveraging on the strengths of the two business gurus towards the provision of high end services for the various financial institutions.
Founder and CEO of Hypur Christopher E. Galvin said that they had collaborated with Blue Line after a close consideration of the safety and soundness associated with its exceptional services especially in the last four years. He went further to state that they were the most comprehensive cash transportation and audit firm they had come across from their research.
He opined, “By combining its services with Hypur’s proactive compliance, enhanced due diligence and beneficial ownership technologies, we are confident that no other solution in the United States can enable financial institutions to bank both cannabis and money service businesses in a more transparent and compliant manner.”
A lot of people around the globe have their eyes fixed on the new partnership to see the changes it pulls along with. We will just have to wait and see.