SinglePoint Continues Expansion into Cannabis Industry as Proposed Legislation Favors Industry Growth
April 24 2018 - 8:30AM
InvestorsHub NewsWire
Seattle, WA -- April 24, 2018 -- InvestorsHub
NewsWire -- SinglePoint Inc. (OTCQB:
SING) announces the latest development of its cannabis payment
solutions platform alongside a flurry of cannabis-related news
released by members of various political parties over the past
week.
Since 2014 SinglePoint has been aggressively
seeking opportunities in the cannabis market. The company recently
integrated a stand-alone point of sale terminal designed to give
merchants the ability to accept Bitcoin as a payment option.
Customers can now use their credit or debit card at the counter
instead of through a web-based app. SinglePoint’s push to
streamline payment processes and make the cannabis purchase
experience no different than using a credit card at any other store
complements recent efforts by political leaders seeking cannabis
reform.
Former Speaker of the House Rep. John Boehner
(R-Ohio), once an outspoken cannabis antagonist, has now joined the
board of a cannabis company with the statement he believes cannabis
should be de-scheduled so that medical studies may begin. Colorado
Republican Sen. Cory Gardner announced April 13 that President
Donald Trump promised he would support efforts to protect states
that have legalized marijuana. Most recently, Senate Minority
Leader Chuck Schumer (D-N.Y.) threw his weight behind legalizing
marijuana and said he will soon be introducing a bill to
de-schedule the plant.
"The legislation is long overdue based on … a
bunch of different facts," Schumer said. “Ultimately, it is the
right thing to do. Freedom. If smoking marijuana doesn't hurt
anybody else, why shouldn't we allow people to do it and not make
it criminal."
SinglePoint founder and CEO Greg Lambrecht
hailed the positive political messages and growing support for the
cannabis industry.
“This is exactly what we have been waiting for
and what the industry needs. As we continue to develop solutions to
help ease the banking issues, we welcome new regulations that may
make that easier such as de-scheduling the plant and allowing banks
to work with these businesses,” Lambrecht said. “That would allow
SinglePoint to offer all of our payment solutions to cannabis
businesses.”
SinglePoint management believes cannabis-related
businesses and all those working within the industry will continue
to grow and soon thrive under new regulations. Public opinion polls
show that 61 percent of respondents believe cannabis should be
legalized for adult use. Several top Democrats seen as possible
contenders in the 2020 presidential race are backing legislation to
de-schedule cannabis. The shift has marijuana activists and
political operatives believing many of the 2020 presidential
candidates will support removing cannabis from the Federal
Substances Act.
Sen. Bernie Sanders (I-VT), a 2016 presidential
candidate widely considered a top contender for the nomination in
2020, signed onto The Marijuana Justice Act, as did Sen. Kirsten
Gillibrand (D-N.Y.), another possible 2020 hopeful. Proposed by
another potential 2020 presidential contender, Sen. Cory Booker
(D-N.J.), the Act would remove the drug from the federal Controlled
Substances Act, voiding the uncertainty the federal government
injects into cannabusiness and deconstructing the final barriers to
national legalization.
SinglePoint’s streamlined payment process helps
cannabis retailers, dispensaries and consumers in several,
important ways. Customers can preload their wallet with their
credit card information, which brings additional efficiencies in
the checkout process. A customer that preloads a wallet will simply
be able to “send payment” to the merchant for the amount requested
at the register. Additionally, SinglePoint is tying this payment
into its Last Mile Delivery service. Delivery clients will already
have the application downloaded, which means that once an order is
placed the customer will be able to select a payment method and
utilize a stored card or cryptocurrency.
About
SinglePoint, Inc.
SinglePoint, Inc (SING) is a technology and
investment company with a focus on acquiring companies that will
benefit from the injection of growth capital and technology
integration. The company portfolio includes mobile payments,
ancillary cannabis services and blockchain solutions. Through
acquisitions into horizontal markets, SinglePoint is building its
portfolio by acquiring an interest in undervalued companies,
thereby providing a rich, diversified holding base. Through its
subsidiary company SingleSeed, the company is providing products and services
to the cannabis industry.
Connect on social media at:
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https://twitter.com/_SinglePoint
https://www.linkedin.com/company/singlepoint
For more information visit:
www.SinglePoint.com
Forward-Looking
Statements
Certain statements in this news release may
contain forward-looking information within the meaning of Rule 175
under the Securities Act of 1933 and Rule 3b-6 under the Securities
Exchange Act of 1934, and are subject to the safe harbor created by
those rules. All statements, other than statements of fact,
included in this release, including, without limitation, statements
regarding potential future plans and objectives of the Company, are
forward-looking statements that involve risks and uncertainties.
There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ
materially from those anticipated in such
statements.
Technical complications, which may arise, could
prevent the prompt implementation of any strategically significant
plan(s) outlined above. The Company undertakes no duty to revise or
update any forward-looking statements to reflect events or
circumstances after the date of this release.
Corporate
Communications Contact:
NetworkNewsWire (NNW)
New York, New York
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212.418.1217 Office
Editor@NetworkNewsWire.com
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