- SING at the forefront of $24.5 billion legal cannabis industry and rapidly-growing cryptocurrency market
- The company plans full launch of its proprietary bitcoin-powered credit-debit payment processing platform and end-to-end solutions
- Recent and planned key acquisitions and joint ventures will strengthen SING’s position in booming markets
As a pioneering and innovative company that offers mobile, technology-driven solutions in various markets, including those to be considered high-risk, SinglePoint, Inc. (OTC: SING) is at the forefront of booming sectors including the legal cannabis industry and the cryptocurrency market. With legal marijuana sales projected to reach upward of $24.5 billion by 2021 (http://cnw.fm/FX30y), coupled with the exponential rise of bitcoin (http://cnw.fm/F0pOb), the company is poised to offer comprehensive payment and end-to-end solutions that unite the exploding markets.
SinglePoint, through subsidiary SingleSeed, has established a proprietary credit-debit card payment processing platform that utilizes bitcoin rather than conventional bank-held currency. While not specific to any industry, with blockchain technology’s capability to create efficiencies in any sector, SinglePoint’s innovative SingleSeed app is designed to provide an alternative payment solution to the unbanked cannabis market. The platform, soft-launched last November with expected full launch in the first quarter of 2018, was designed to leverage bitcoin, and eventually other cryptocurrencies such as ethereum, to provide cash-alternative options. The solution enables merchants and customers to sell and purchase products utilizing bitcoin-powered debit and credit card-based transactions. In addition, the solution enables merchants to digitally track and automatically update inventories, as well as upload product-related data, such as photos and descriptions.
The fully KYC-AML compliant solution was designed to bypass current federal restrictions and provide cannabis businesses and customers with critically-needed financial transactions, but it is customizable to any company and industry. The payment service provides ease and efficiency of user signup and verification to enable online and prior-to-sale account registration or immediate point-of-sale cryptocurrency transactions.
As addressed in a recent editorial highlighting innovators and opportunities in the skyrocketing market, the potential of solutions by pioneering companies like SING that utilize bitcoin and other cryptocurrencies are clear and will continue to have wide and cross-industry application (http://cnw.fm/hMoT7). Another article (http://cnw.fm/NFD8l) highlights its industry-wide potential, stating, “Beyond changing the game for U.S. cannabis businesses, this pioneering payment exchange can, and likely will, go even further, enabling businesses of all types — in both high-risk and low-risk markets — to conduct instant card-based transactions that are powered by bitcoin.”
In the meantime, SING is poised to strengthen its position in the rapidly-growing cannabis and cryptocurrency markets. The company strives to continue to solve key issues with the ultimate goal of providing comprehensive, fully-integrated and end-to-end solutions for cannabis companies to manage all daily operations. This is clear with the company’s recent and planned strategic acquisitions and key joint ventures including, but not limited to, its agreements with Global Payout (OTC: GOHE) and AppSwarm (OTC: SWRM). The agreements with GOHE and SWRM will combine strengths to produce further cryptocurrency and payment solution options for the cannabis industry, as well as provide additional value-added solutions that include licensed in-home delivery services.
For more information, visit the company’s website at www.SinglePoint.com
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