SinglePoint Announces Soft Launch of Cannabis-Base Cryptocurrency

The world of blockchain just got a little bigger today. On Feb. 7, 2018, SinglePoint Inc. (SING) announced the soft launch of its SingleSeed payment bitcoin payments solution and provided an update on ongoing company operations.

Conceived of in 2014, the company initially held off on developing SingleSeed Payments due to a lack of market demand for cryptocurrency related products and services. Now that demand has caught up with the technology, SinglePoint has begun to fully commit to the blockchain/cryptocurrency market.

To serve this end, the company has taken several steps to shore up its blockchain brand, such as hiring serial entrepreneur Kevin Harrington to serve as spokesman for the company’s upcoming SinglePoint Cryptocurrency Exchange; which is expected to launch in the coming months.

Hoping to become as vertically integrated as possible, the company has entered a letter of intent with ORHub, Inc. to develop a private blockchain and has brought Venugopal Aravamudan, a tech industry veteran with more than 25 years of experiences, on to its board of directors.

The company has also begun developing, in collaboration with AppSwarm, its own cryptocurrency currency wallet, which will allow consumers and merchants to use to hold and utilize different currencies. Development of the wallet is nearing completion and should be pushed into testing within the next 10-14 days.

Outside of the cryptocurrency market, SinglePoint has been developing, once again in collaboration with AppSwarm, a cannabis delivery application called Oomy as well as a B2B e-commerce platform for the cannabis industry, dubbed SingleSeed.

The company is currently in the middle of its 2017 audit, being conducted by the auditing firm Turner, Stone and Company, and is expected to complete it within the next 30 days, upon which the company will file its Form-10.

“We are firing on all cylinders and pushing the boundaries to make SinglePoint a highly successfully, scalable company. I hope this breakdown of projects has provided the insight and confidence to our shareholders that we are heading in the right direction. We are happy to be in the position we are in and will continue to take advantage of the opportunities that present themselves,” said SinglePoint President Wil Ralston in a statement.

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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