Shf Holdings, Inc. shares surge 59.58% intraday after reporting $2.8 billion in monthly deposit activity and $249 billion in total deposits processed.

Shf Holdings, Inc. surged 59.58% intraday, driven by the company's specialized financial technology banking services for legal cannabis businesses, including deposits, loans, ACH payments, and cash management, with an average of $280 million in deposit activity per month in 2024. The company has enhanced its technology platform and market reach through business restructuring in 2021 and the acquisition of Abaca on October 31, 2022, cumulatively processing $249 billion in deposit activity.