LAS VEGAS, NV / ACCESSWIRE / November 8, 2017 / Medical Cannabis Payment Solutions (OTC PINK: REFG), the industry's leading payment processing solution for the marijuana industry, and First Bitcoin Capital Corporation (BITCF) today announced they will work together to integrate First Bitcoin's cryptocurrency ($Weed) with Medical Cannabis Payment Solutions' StateSourced payment gateway. The collaboration will allow state-licensed marijuana establishments across the nation to accept both StateSourced debit cards and cryptocurrencies such as WeedCoin and Bitcoin.
We are a first-tier merchant processing cannabis industry pioneer, bringing to market the first and only comprehensive card processing operation of its kind; a state-of-the-art system which tracks sales and tax collection, and empowers businesses with an advanced client management system.
The companies today signed the agreement with the goal of revolutionizing end-to-end compliance solutions for state-sanctioned cannabis. StateSourced's exclusive offering brings to market a revolutionary merchant account with advanced processing perimeters, including the capabilities and securities of accepting a traditional credit or debit card and now cryptocurrency.
The new venture, yet to be branded, intends to deploy an exchange platform that will allow marijuana establishments and industry service providers across the length and breadth of the country to access a suite of products aimed at balancing regulatory compliance with both federal and state laws. It will utilize the $WeedCoin cryptocurrency as an additional non-cash payment option in the growing Cannabis Industry.
"Medical Cannabis Payment Solutions welcomes our collaboration with First Bitcoin. We are pleased to team up with them in this venture which has the potential of allowing consumers real-world non-cash payment solutions to the regulatory hurdles in our industry. We will provide customers a world class experience with our vast compliance distribution network, including full compliance with FinCen and the Cole memo and through the inclusion of our state of the art StateSourced payment technology," said Jeremy Roberts, CEO of Medical Cannabis Payment Solutions.
As part of the transaction, REFG will purchase a block of $WeedCoin from Cannabis Sativa, Inc. (CBDS) in return for a block of REFG restricted common stock.
First Bitcoin CEO, Greg Rubin, said, "With an industry serving a population of approximately 175 million people in over 25 states and one of the largest growing industries in the nation, America is set to be the world's largest marketplace for cannabis. We are excited to be teaming up with Medical Cannabis Payment Solutions, whom we feel can revolutionize the end-to-end processing of payments and compliance products. Our intent is to do that by state of the art end-to-end technology and processes."
About Medical Cannabis Payment Solutions, Inc.
Our mission is to provide end-to-end management, across multiple management systems, for medicinal marijuana operations. Many medicinal marijuana companies have experienced such rapid growth that they are finding it difficult to manage all aspects of their operation. To become a successful and compliant marijuana operation, effective management must depend on many different systems. REFG solves the fragmentation problem by identifying tools that are important to dispensaries and customizing those tools specifically catered to the industry. We strive to create awareness within the medicinal marijuana industry and to develop an environmentally friendly, economically sustainable business while increasing shareholder value. For more information, please visit the company's website at: www.refg.co
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of REFG to be materially different from the statements made herein.