SEATTLE, Nov. 15, 2017 (GLOBE NEWSWIRE) -- SinglePoint, Inc. (OTC:SING) today announces the soft launch of a bitcoin exchange aimed at solving payment issues plaguing the cannabis industry. SinglePoint sees vast opportunity for technology to solve payment issues related to high-risk transactions, specifically in the cannabis market. There is yet to be a standout leader in the cannabis payments space, and SinglePoint is looking to solidify its position through the company’s relationships and history of mobile payment offerings. The new solution can be utilized by any business from convenience stores to dispensaries in the 29 legal states and District of Columbia. For more information, or to sign up for the exchange, visit app.singleseed.com
Convenience has been the No. 1 driver for building this application, which is designed as a payment service to make instant bitcoin-powered purchases possible when all you have is a credit or debit card. Through an easy-to-use sign up form and ID verification, customers will be able to set up their account online beforehand or will be able to sign up within seconds directly at the point of sale. This model is similar to solutions utilized abroad, but SinglePoint has not yet seen this feature offered in the United States.
“We are very pleased with what we have built out and executed on with this solution. SinglePoint now has a base to continue innovating on for the cannabis payments space. Businesses are contacting us daily about payment services and with this solution we feel confident we will be on boarding many of these customers. This is just the beginning of a solution that will ultimately serve cannabis businesses much beyond payments. The overall goal is to have a fully integrated solution for businesses to manage their day-to-day operations from beginning to end,” states Wil Ralston, president of SinglePoint.
According to a new report by Grand View Research, the cannabis market is projected to reach $55.8 billion by 2025. This presents a major opportunity for SinglePoint to generate additional revenue through platform fees and transactional fees.
Beyond payments innovation, SinglePoint is continuing to negotiate new acquisitions in the cannabis market. Company management will be at MJ BIZCON, taking place November 14 – 17 in Las Vegas, and has set up multiple meetings for continued deal flow. For more information or to set up a meeting please contact Support@SinglePoint.com.
About SinglePoint, Inc.
SinglePoint, Inc. (SING) has grown from a full-service mobile technology provider to a publicly traded holding company. Through diversification into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued subsidiaries, thereby providing a rich, diversified holding base. Through its subsidiary company SingleSeed, the company is providing products and services to the cannabis industry.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.