Million Dollar Deal - SinglePoint (OTC: $SING) Signs LOI to Acquire 100% of Bitcoin
Payment Platform Bitcoin Beyond
SEATTLE, WA - January 22, 2018 – (Investorideas.com
Newswire) SinglePoint, Inc. (OTC:SING) today announces a letter of intent (“LOI”) to acquire 100%
of Bitcoin Beyond, a premier platform that enables retail merchants to accept
bitcoin payments using their existing web-enabled point-of-sale device. This acquisition,
priced at $1 million all stock, is expected to provide SinglePoint with a full
end-to-end purchasing experience that provides merchants and bitcoin users
unprecedented capabilities.
Bitcoin Beyond was created to address growing
demand for fast and reliable electronic payment processing for the cannabis
industry. As the industry exists today, many merchants face extensive physical
cash management issues that require expensive and risky on-site safes, armed
guards, armored cars, and physical cash transfers. Bitcoin Beyond stands to
overcome these challenges, functioning as a general-purpose point-of-sale system
that processes dollar-denominated payments using bitcoin. It can be operated
from any web-enabled terminal available at checkout, from a cell phone to a
tablet, to a full PC.
“We are thrilled with this opportunity.
Acquiring Bitcoin Beyond put us was 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,” states SinglePoint President Wil Ralston.
The Bitcoin Beyond System was designed
using 14 years of expertise in creating payment processing and online wallet
solutions. It is built on a widely used technology stack, with security best
practices and private merchant data is stored encrypted at rest. Because of
this industry-leading technology, Bitcoin Beyond can be easily used and
integrated with existing frameworks to add a simple means of payment with bitcoin,
as well as other cryptocurrencies, such as Weed Coin, in the future.
SinglePoint has an early investment in Weed Coin which has currently increased
8x in value.
Bitcoin Beyond furthers SinglePoints’
Bitcoin payments solution which the company recently signed Kevin Harrington to
evangelize and consult on. Last week the company started production of the
commercial spot and is now in editing and post-production. SinglePoint has
engaged a media specialist to start the process of getting the commercial aired
on major national news networks to drive consumer sign ups and awareness for
the service.
SinglePoint has plans to acquire
additional companies in the space and again broaden its footprint in the
quickly emerging blockchain space. The company is currently in negotiations to
acquire another blockchain centric company in an effort to deploy its technology
to major established markets.
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.
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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.
Contact:
SinglePoint, Inc.
Corporate
Communications Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
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