SinglePoint Acquiring Bitcoin Beyond for $1 Million

Bit by bit and block by block, more and more cannabis companies are moving into the cryptocurrency and blockchain market.

Today SinglePoint, Inc. (SING), a full-service mobile technology provider that services the cannabis industry through its subsidiary company SingleSeed, announced a letter of intent (LOI) to acquire Bitcoin Beyond, a software platform that allows retail merchants to accept Bitcoin payments through an existing point-of-sale device.

Bitcoin Beyond was primarily developed to service the legal cannabis industry. With adequate banking services in short supply as well as United State Attorney General Jeff Sessions’ renewed pledge to crack down on the industry, many cannabis business owners are seeking alternative forms of payment, such as Bitcoin and other forms of cryptocurrency, to protect themselves from federal interference and the vagaries of everyday crime.

SinglePoint expects the acquisition, which is valued at $1 million, will help allow the company to provide business owners and consumers a full end-to-end retail experience. Built on a popular technology stack with encrypted merchant data and best security practices in mind, Bitcoin Beyond has been designed to easily integrate with existing POS frameworks and allows merchants to add means of payment like Bitcoin or SinglePoint’s own investment property Weedcoin.

“We are thrilled with this opportunity. Acquiring Bitcoin Beyond put us ahead of what we believe merchants have access to now. This platform has by far the easiest user interface we have seen in the market, and we are confident merchants will be quick to adopt this solution as it stands as the sole alternative to traditional options offered to the cannabis industry,” staid SinglePoint President Wil Ralston in a statement.

SinglePoint hopes to continue to expand into the blockchain market and is currently in negotiations to acquire another, yet unnamed, blockchain centric company.

SinglePoint Partners with “Shark” Kevin Harrington

Earlier this month, SinglePoint began expanding its cryptocurrency footprint when the company announced a partnership with serial entrepreneur and original Shark Tank “Shark” Kevin Harrington.

As part of the deal, Harrington will work with SinglePoint’s cryptocurrency division to promote SinglePoint’s bitcoin exchange and bitcoin payment platform. Harrington will also serve as the public face of the company’s national television campaign, which recently began production last week and is now in editing and post-production. The television ad campaign is set to air on major financial and news networks, such as CNN and Fox News.

William Sumner

William Sumner

William Sumner is a freelance writer specializing in the legal cannabis industry. You can follow William on Twitter @W_Sumner or on Medium.


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