NEW YORK, NY--(Marketwired - Aug 9, 2017) - NetworkNewsWire ("NNW"), a multifaceted financial news and publishing company, today announces the publication of an editorial featuring SinglePoint, Inc. (
The publication, titled, "Absent Federal Banking Support, Cannabis Market Shows Growing Interest in Proprietary Bitcoin Payment Solutions," discusses several public companies using bitcoin to bridge the payment solutions gap between consumers and cannabis services.
To view the full publication, visit: https://www.networknewswire.com/absent-federal-banking-support-cannabis-market-shows-growing-interest-proprietary-bitcoin-payment-solutions/
"Because of federal regulations barring traditional financial institutions and credit card companies from offering their services, the booming marijuana industry, with almost $7 billion in reported sales last year, is facing a massive cash flow problem. ...
"This is where specialized holding company SinglePoint, Inc. (SING) comes in. The mobile technology provider is developing (http://nnw.fm/2wJlF) a proprietary bitcoin exchange system aimed at solving payment processing issues in high-risk markets including the cannabis industry. This in-house solution will allow consumers to obtain bitcoin at any point of sale and will be available for use to any legal marijuana business in the 29 states and the District of Columbia where cannabis has been legalized. The proprietary system is built for SinglePoint by TopTal, a San Francisco-based freelance engineering company, and is designed to make instant Bitcoin-based purchases for customers who want to use their credit or debit cards instead of cash."
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.
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This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.