NEW YORK, NY — (Marketwired) — 06/15/17 — (“NNW”), a multifaceted financial news and publishing company, today announces the publication of an editorial featuring SinglePoint, Inc. (OTC: SING), a client of NNW focused on strengthening its position in the marijuana industry through the acquisition of, or investment in, small to mid-sized cannabis companies.
The publication is entitled, “Digital Currency Headed for Widespread Acceptance, Has Potential as Cure for Banking Concerns among Cannabis Companies.” The editorial shines a light on the hesitancy of many banks to associate with the cannabis market, and how digital currency is set to fill this payments gap.
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“Since marijuana hasn–t been legalized at the federal level, most banks are hesitant to have any part of the $6.7 billion marijuana industry. While many industry experts expect this stance to change amid growing support for a bankable marijuana industry, 70 percent of cannabis companies currently operate without access to a corporate bank account.
“A lack of bank support hasn–t deterred SinglePoint, Inc. (SING) from aggressively expanding its market reach to the 29 states that have legalized medical marijuana. Demonstrative of its insight into the opportunities afforded by mounting acceptance and legalization of marijuana, SinglePoint recently announced its partnership with First Bitcoin Capital (BITCF), a leading provider of bitcoin technology, to create a viable payments solution for unbanked cannabis businesses.
“SinglePoint, through its SingleSeed Payments subsidiary (), already has its roots as a payment solutions provider to the cannabis industry. SingleSeed Payments delivers tools and support specifically crafted to help cannabis businesses stay on top of key issues in the retail and recreational markets in order to build their customer base and develop effective strategies.”
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 the company is providing products and services to the cannabis industry.
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