Security Grade Protective Services Inc. is a Denver-based private security firm that focuses on cannabis businesses. In an attempt to adapt and meet modern needs, the company is now accepting bitcoin as a form of payment for it’s services.

The cryptocurrency is becoming more mainstream, and it offers a competitive advantage with it’s low fees that other payment methods can’t match with their 3%-5% credit card processing fees. Security Grade is charging it’s customers only a 1% fee for bitcoin payment. CEO Derek Porter explains that “I do not expect for clients to line up to pay us with this form of payment right away, however a decentralized method of legitimate payment was a logical move on our part considering over half our clientele are cannabis operator licensees. This gives them another safer option to pay us in an already risky and cash heavy industry. Now they don’t have to touch the cash, furthermore, they don’t have to pay outrageous merchant service fees.”

A new program was launched by the company called T.A.P.(Total Accountability Program) which is a video surveillance program specifically for the cannabis industry. While it is focused on cannabis businesses, it could potentially be used for other businesses in the future. Adding bitcoin payment options on top of the T.A.P. caters to the cannabis industry even more.

More companies will likely adapt and innovate in order to meet the needs of the growing cannabis industry as it becomes more acceptable.