- Company plans to start processing cannabis payments from subsidiary SingleSeed Payments by January 2018
- Goal is to build a fully integrated solution for cannabis businesses to help manage day-to-day operations from beginning to end
- SING plans more acquisitions in 2018, investing a significant amount of equity and cash into additional companies
SinglePoint, Inc. (OTC: SING) has been cited by the The Greensheet Online Edition for building a “soup-to-nuts” platform for payment processing in the cryptocurrency and cannabis industries (http://dtn.fm/5bZVE). The goal, according to Wil Ralston, SING president, is to have a “fully integrated solution for businesses to manage their day-to-day operations from beginning to end.” Greensheet prominently mentioned SinglePoint in a section titled, “Workarounds Emerging.” It detailed how SinglePoint is a company offering solutions to the cryptocurrency and cannabis industries.
“We already have all the pieces in place to get a credit-debit card solution up and running,” Ralston said. He added that SING is experimenting with a mobile solution for payment processing from subsidiary SingleSeed Payments. It focuses on cannabis dispensaries that have a proprietary bitcoin exchange. “We hope to start processing by mid-January,” he said.
SING also announced that, in 2018, it will continue its growth strategy of pursuing more joint ventures and the closing of new deals within existing agreements. The goal is to solve key issues in the cannabis industry (http://dtn.fm/JD2go).
SING has been acquiring technologies and companies that will eventually support a comprehensive platform for the cannabis industry, with the goal of providing a single platform to manage all operations for companies in the cannabis industry.
SinglePoint is a mobile, high-technology company offering payment processing solutions in high-risk markets, such as the legal cannabis industry. SING is a publicly-traded holding company building its portfolio of undervalued subsidiaries. The cannabis market operates independently of conventional banking. It uses its own proprietary technology to process transactions in bitcoin for the “unbankable” cannabis industry.
The company has already made a number of acquisitions, such as SingleSeed, Convectium and Discount Industry Garden Supply (DIGS). It also strengthened its position in the cannabis and cryptocurrency markets through its recent joint venture agreement with AppSwarm (OTC: SWRM). The agreement calls on the two companies to start development of a proprietary delivery application that will enable licensed delivery services and licensed dispensaries to safely make in-home deliveries.
After achieving a $100 million market cap in December 2017, SING plans continued growth through acquisitions in 2018. Its management remains bullish on bitcoin and blockchain technologies that solve key issues in the cannabis markets. SING will look for additional companies to acquire and partner with in order to bring solutions to this market.
For more information, visit the company’s website at www.SinglePoint.com
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