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Friday, September 22, 2017 1:13:50 PM
Through building a diversified holding base, SinglePoint, Inc. (OTC: SING) has developed from a full-service mobile technology provider to a publicly traded holding company, and its SingleSeed subsidiary is working to solve an issue that is currently plaguing legal cannabis businesses: a lack of traditional banking options. Because of federal restrictions, marijuana merchants in the United States do not have the backing of the FDIC and, consequently, must largely conduct cash transactions because they do not have a means of processing credit and debit cards.
An article further discussing this reads: “Analysts predict that the medical marijuana and recreational cannabis market in the United States alone could be worth upward of $50 billion by 2026. In order to successfully ride such a trajectory, SinglePoint and its investors knew a critical component of the business model was missing: a way to process debit and credit card transactions independent of banks and the FDIC (http://nnw.fm/zuCI5). Waiting on federal banking guidelines to solve this problem wasn’t at the top of the company’s to-do list. Instead, SinglePoint, like it has for years, started working on finding solutions. Cryptocurrencies like bitcoin and ethereum, as well as their underlying blockchain technology, are on the table, and SinglePoint is among the first in line to serve up a solution for these high risk industries.”
To view the full article, visit http://nnw.fm/48Wbc
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
Recent SING News
- Form 8-K - Current report • Edgar (US Regulatory) • 06/10/2024 09:22:59 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/04/2024 09:19:23 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 05/30/2024 02:36:43 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 05/16/2024 08:54:36 PM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 02/15/2024 05:15:29 AM
- Form POS AM - Post-Effective amendments for registration statement • Edgar (US Regulatory) • 02/13/2024 09:33:34 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/04/2024 07:47:44 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/21/2023 08:54:39 PM
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