Specialized holding company SinglePoint, Inc. (OTC: SING) this morning announced its purchase of the $Weed cryptocurrency from joint venture partner First Bitcoin Capital (OTC: BITCF). Aimed at solving the payment problems that currently exist in the cannabis industry, WeedCoin is already listed on three exchanges, and SinglePoint intends to list and market the currency on more exchanges moving forward. Additionally, the company plans to invest heavily in attracting customers to sign up for a $Weed wallet before visiting the dispensary. If successful, these efforts will address one of the largest barriers relating to the use of cryptocurrency at cannabis retail stores – consumers who have not yet set up a wallet when ready to make a purchase. As noted in this morning’s update, SinglePoint believes that, with proper execution, users of its $Weed cryptocurrency could enjoy a similar experience to the one offered to users of Starbucks’ mobile payment system, with payments completed through a simple scan of a barcode on the user’s smart phone or tablet.
To view the full press release, visit http://dtn.fm/63ozM
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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. For more information visit www.SinglePoint.com
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