Million Dollar Deal - SinglePoint Signs LOI to Acquire 100% of Bitcoin Payment Platform Bitcoin Beyond
January 23 2018 - 07:30AM
InvestorsHub NewsWire
Million Dollar Deal -
SinglePoint Signs LOI to Acquire 100% of Bitcoin Payment
Platform Bitcoin Beyond
SEATTLE, WA --
January
23, 2018 -- InvestorsHub
NewsWire -- SinglePoint,
Inc.
(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.
Connect on social media at:
https://www.facebook.com/SinglePointMobile
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.
Contact:
SinglePoint,
Inc.
www.SinglePoint.com
Greg
Lambrecht
602.481.1544
Corporate Communications Contact:
NetworkNewsWire
(NNW)
New York,
New York
www.NetworkNewsWire.com
212.418.1217
Office
SinglePoint (QB) (USOTC:SING)
Historical Stock Chart
From Feb 2024 to Mar 2024
SinglePoint (QB) (USOTC:SING)
Historical Stock Chart
From Mar 2023 to Mar 2024