Specialized holding company SinglePoint, Inc. (OTC: SING) this morning announced an initiative to develop a bitcoin payments solution in partnership with First Bitcoin Capital Corp. (OTC: BITCF), an industry-leading bitcoin and blockchain technology provider. Per the news release, the two companies have signed a joint venture agreement to develop and distribute a viable payments solution targeted at “high-risk payment verticals including the cannabis industry” in order to “fill the payments gap that currently exists.” Through this new partnership, SinglePoint and First Bitcoin Capital intend to focus on their respective core strengths in order to build and supply the best bitcoin solution available. “In January 2014 SinglePoint announced and started working on a bitcoin payment solution, shortly after we recognized the issue of minimal user adoption of digital currency. The payments industry has rapidly changed since that time,” Greg Lambrecht, CEO of SinglePoint, stated in the news release. “There is now tremendous momentum and demand for bitcoin acceptance as an alternative form of payment. This Joint Venture with First Bitcoin Capital is perfect timing. Bitcoin payments are catching on and cannabis dispensaries need a solution fast.”
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