You run a real business.Your capital should be real too.
Licensed cannabis operators already track every plant and every package — the data exists. What it can't do is prove anything to a capital provider who has never heard of your license. CannaStocks turns the track-and-trace ledger you already keep into auditable onchain collateral and ownership.
Cannabis is the biggest legal industry nobody can finance normally.
Not because the businesses are weak. Because the collateral is invisible to the lenders who hold the capital — and the federal tax code still penalises half the market.
Tokenized collateral already works. In other commodities.
We are not inventing a new financial primitive. Warehouse receipts and agricultural receivables have already been tokenized and funded at scale — and cannabis inventory is the exact same shape of asset: a physical, tracked, saleable good.
You already run a seed-to-sale ledger. It is the proof layer.
This is a state-law requirement, not a federal one — and it is the single most under-used asset in the industry. Every plant, package, transfer and destruction is already a dated, signed, regulator-inspectable record. That record is collateral-grade.
Plant-level tags
Michigan requires a serialized tag on every plant and a label on every wholesale package. Missouri requires tags on all immature plants ≥8in tall or wide.
Batch discipline
Massachusetts caps a strain-specific immature batch at 100 clones, tagged on move to vegetative. Seed packets carry no more than 50 seeds.
Harvest weight
Montana requires the wet weight of every individual plant recorded by end of business day — a per-plant yield record a lender can actually verify.
Daily inventory ledger
Missouri mandates a daily entry of beginning inventory, harvests, sales, remediations, disposals, transfers and ending inventory — kept five years.
Movement manifests
Custody transfers run on a signed manifest from tagged package to new planting. Chain of custody is already a legal document, not a spreadsheet convention.
One schema, many states
Metrc is the de facto standard across MA, CA, CO, IL, WA, OR, NV, MI, OH, NY, NJ, MN and MT — so most operators already run one integration across several states.
License caps and equity law, state by state.
These are the constraints that decide whether a roll-up, a raise, or a community-ownership structure is even legal. Every row is cited to the statute or regulator.
| State | Ownership cap | Equity / social program | Source |
|---|---|---|---|
| MA | Max 3 licenses per class; 100,000 sq ft canopy combined 935 CMR 500.050 | Cannabis Social Equity Trust Fund = 15% of excise revenue; Microbusiness + Craft Co-op are equity licence classes Ch.180 Acts of 2022 | CCC |
| OH | Per person: 1 cultivator, 1 processor, 8 dispensary, 1 lab OAC 1301:18-3-03 | Craft / microbusiness classes exist | DCC |
| PA | 1 grower/processor permit per person; 5 dispensary permits to one person; 3 locations per permit 28 Pa. Code 1141a.23 | — | DAMP |
| NV | Greater of 1 license or 10% of allocable adult-use licenses in counties ≥100k NRS 678B.270 | — | CBO |
| NJ | 1 license per class; vertical integration permitted; no statewide cap | Priority review/scoring for Social Equity + Diversely-Owned; NJEDA $12M to 48 awardees NJCRC | NJCRC |
| MN | 1 licence per individual (≤10% passive ownership exempt); vertical integration barred Minn. Stat. 342.185 | Up to 33% controlling ownership of up to 4 social-equity entities | OCM |
| MO | Market-wide: 27 dispensary / 88 manufacturing / 65 cultivation per congressional district 19 CSR 100-1.020 | — | DOR |
| IL | Market-wide caps; social-equity applicants need 51% ownership/control 410 ILCS 705 | Round III: $31.8M forgivable loans to 95 businesses DCEO — a second DCEO figure of $40M is also published; treat the total as contested | DCEO |
| CA | — | Cannabis Equity Grants fund localities, not licensees; equity % set locally SB 1294 (2018) | GO-Biz |
| OR | No cap; full vertical integration permitted; labs may hold no other licence ORS 475C.061 | — | OLCC |
| NY | Supply Tier / Retail Tier structural firewall | Social equity pricing + 50% ownership for social-equity applicants | OCM |
| MD | — | Conditional licences require ≥51% held by qualifying social-equity applicants COMAR 14.17.05.05 | MCA |
| WA / CO / MI / CA / IL / NV | Seed-to-sale mandated via Metrc (plus WA LCB system, CO statewide METRC account, MI statewide monitoring system). Retail tax differs sharply — OR 17% flat excise + 2% admin + up to 3% local; MI 24% wholesale (from Jan 2026) + 10% retail + 6% sales. | ||
What actually changed in April 2026 — and what didn't.
Most commentary on this is wrong in both directions. Here is the actual text, and it matters enormously for how a cannabis business gets financed.
Four things, in the order an operator needs them.
1 · Attest your ledger
Read-only connection to the track-and-trace system you already pay for. We attest that your records exist and reconcile — we never write to your compliance system.
2 · Inventory as collateral
Verified, tagged, in-vault stock becomes a tokenised warehouse-receipt position — the model Arya.ag pilots for grain, applied to a legal commodity.
3 · Auditable ownership
Operator equity interests that a holder can actually verify on a public chain, inside a regulated structure — never a promise in a PDF.
4 · Genetics as an asset
Strain IP is already licensed for money (Phylos/Organigram, Alien Labs/Trulieve). We make those licences and their provenance machine-readable.
5 · Retail-to-retail settlement
A licensed brand supplying a licensed retailer, settling in seconds rather than on a 60-day net-terms invoice — without turning the retailer's licence into the vendor's problem.
6 · Community & equity capital
A route for the ~30,000 small operators the debt market skips, and for patient/community capital — the segment every equity programme in the country is trying to reach.
What exists, what is proven, what we are still building.
Separating the three is the whole point of this page.
Track-and-trace ledgers exist in 13+ statesLive, mandated by state law
Metrc and state systems already hold the per-plant, per-package, per-transfer record. This is the foundation and it is real today.
Inventory-backed lending works in cannabisLive
Auxly's $5M first-priority inventory facility at 18% proves tracked cannabis goods collateralise debt.
Tokenised warehouse receipts work at scalePilot
Arya.ag/Finternet hold ~$2B of grain against a $230M–1.26B book. Still pre-launch — we do not claim it is live.
CannaStocks contract set written and proven27/27 tests passing
OperatorRegistry (licences, with per-state transfer rules) and InventoryReceipt
(ERC-1155 warehouse-receipt positions). Deployed and exercised end-to-end against a
Robinhood mainnet fork at chain 4663 — attest licence → open vault → mint →
transfer → burn, with conservation checked at every step.
Three guarantees are enforced by the contracts, not by policy: a receipt
cannot be minted until the vault is reconciled to a regulator record; receipts are
transfer-locked by default; and a vault's state cannot differ from its licence's
state, so no cross-state position can be assembled.
Not yet on mainnet. No operator is onboarded and no capital has moved.
First operator onboardedNot live
Intake starts with one licensed operator in one state. No marketing before that.
Tokenized cannabis equity issuedDoes not exist yet
No tokenized cannabis equity exists on any public chain. That is the gap — and the reason we are building.
Bring us a licence and a track-and-trace account.
We are looking for licensed operators who already run compliant seed-to-sale — retail, processing or cultivation — and want to be first through a capital route that does not require a 23% APR or a relationship. No pitch deck, no token sale.
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