OLB Group (OLB +1.5%) has agreed to acquire a portfolio of over 1,500 cannabidiol (CBD) merchants. The group will provide its proprietary SecurePay payment system to the merchants. SecurePay includes a support platform for traditional card-based payments, major digital wallets and cryptocurrency wallets. The merchant portfolio is expected to generate an annual transaction volume of ~$400M in 2022, and will help OLB secure a position in the global CBD market. It will also add a sales channel currently onboarding 120 new accounts per month on average. Based on the historical performance of the merchants, OLB expects to generate $20M in additional annual revenue and $5M in EBITDA from the portfolio, contributing to its payment processing business. Ronny Yakov, CEO of OLB Group, said: “This portfolio acquisition of successful merchants in a market that is forecasted to continue its very healthy growth rate in both profitability and revenue provides OLB with

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OLB Group to acquire CBD merchant portfolio