Once solely an expert in mobile payments, now a diversified holding company, SinglePoint, Inc. (SING) is running with the idea of using technology to solve banking problems in the cannabis industry and providing full-service solutions to companies and consumers alike. The Seattle-based company has employed horizontal and vertical expansion tactics to take the concept of integrating bitcoin payment technology into a turnkey business management solution, complete with inventory control, bitcoin payments and more. In aggregate, the model covers both business-to-business and business-to-consumer markets, giving SinglePoint exposure to the complete market spectrum.
On November 15, SinglePoint took a major step towards realizing the opportunity to solve cannabis payment issue – and any high-risk payment for that matter – with the soft launch of a bitcoin exchange at app.singleseed.com. Leveraging its experience in innovating mobile payments, SinglePoint built the cutting-edge system to be able to instantly process credit and debit cards, clearing the high hurdle of cash-only transactions in the cannabis industry. The exchange is designed so that it can be incorporated at companies ranging from convenient stores to cannabis dispensaries anywhere where marijuana is legal in some form, aligning SinglePoint to build its brand and a nationwide presence.