SinglePoint, Inc. (SING) Remains Bullish Regarding Use of Bitcoin, Blockchain Technologies to Solve Cannabis Industry’s Payment Problems

  • Company’s bitcoin payments solution allows underbanked cannabis merchants to accept bitcoin-backed card transactions
  • Proprietary bitcoin exchange soft-launched in November 2017; official launch scheduled for Q1 2018
  • Company recently announced LOI to acquire Bitcoin Beyond

SinglePoint, Inc. (OTC: SING) has evolved from a full-service mobile technology provider to a publicly traded holding company, diversifying into horizontal markets and building a robust portfolio and a diversified holding base by acquiring an interest in undervalued subsidiaries. Through subsidiary company SingleSeed, SinglePoint is successfully offering products and services to the cannabis industry, including, notably, a proprietary bitcoin payments solution that enables both cannabis merchants and consumers to make bitcoin-powered transactions using debit and credit cards. This was discussed in detail in a recent article (http://cnw.fm/G1fUA).

This innovative solution is fully KYC-AML compliant and also has applicability that transcends the cannabis industry and can be deployed in various kinds of businesses to allow the completion of bitcoin transactions using payment cards. Such a solution is ideal for underbanked markets like the cannabis industry, which currently lacks traditional banking options in the United States due to its continued federal status as a Schedule I drug. Where U.S. cannabis vendors have primarily been forced to deal in cash, bitcoin solutions like that offered by SinglePoint allow…

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