Tag: SING

420 with CNW – South African Cannabis Workshop Tickets Sell Out in Record Time

The first weekend of November witnessed the first ever cannabis grow workshop in Cape Town, South Africa. Event tickets were sold out in two days flat after the organizer, Grant Taylor, went to social media to announce the event.

He said that the idea of organizing a workshop on how to grow marijuana was motivated by two things. First, the Constitutional Court ruled recently that adults were free to grow and consume cannabis in South Africa as long as it wasn’t sold or consumed in public.

Secondly, Grant had previously tried to grow something and he had failed miserably. He had also recently heard many people who live in apartments saying that it was impossible for them to grow anything in such an environment.

The workshop was therefore organized to teach people the complexities involved in growing cannabis organically. To that end, organic soil and pots were also on sale so that event attendees could go and start cultivating their own marijuana or any other plant they wished to grow.

Grant and his team of organizers didn’t have any cannabis seeds or plants on sale during the workshop. This omission was deliberate since the court ruling allowing citizens to grow and consume marijuana didn’t permit the sale of marijuana or its products.

Grant Taylor admitted that putting the event together wasn’t a smooth task. He was denied the venue he preferred because the management at that venue wasn’t comfortable about hosting a cannabis workshop in their premises.

Grant had used that same venue in the past to host trainings in hydroponics, but that history wasn’t enough to secure the venue for a workshop on cannabis.

Grant isn’t deterred by such setbacks and he plans to host similar events in future.

For now, one of the co-organizers of the cannabis workshop is going to set up and run a vlog (video blog) on cannabis while Grant will set up a Facebook group and manage it in addition to operating a website on cannabis cultivation.

Contrary to what some people may have thought, the Grow Cannabis Workshop wasn’t attended by drug addicts. Ordinary people like florists, nurses and dentists were in attendance to learn how to grow this plant.

Those interviewed at the workshop said that they wanted to learn how to grow cannabis so that they could have a supply for medicinal use.

It is such ordinary people that give Grant his drive to create a group of likeminded people for purposes of sharing ideas and experiences. Cannabis companies like SinglePoint, Inc. (OTCQB: SING) and Sugarmade, Inc. (OTCQB: SGMD) know that it is through people like Grant Taylor that major changes can take place in any community.

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CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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As the Cannabis Industry Grows, So Do Challenges of Supply and Distribution

CannabisNewsWire Editorial Coverage: The cannabis industry is seeing repeated waves of growth, creating challenges for supply and distribution.

  • Currently worth over $7 billion, the cannabis industry is expected to exceed $65 billion in the next five years.
  • This growth is creating challenges for supply and distribution, as companies struggle to meet surging demand.
  • The passing of the 2018 U.S. Farm Bill will allow for further growth, adding to the cannabidiol (CBD) supply.

SinglePoint, Inc. (OTCQB: SING) (SING Profile) is one of the companies tackling distribution problems through the establishment of an online store selling CBD products. Tetra Bio-Pharma, Inc. (TSX.V: TBP) (OTCQB: TBPMF), a medical cannabis company, is expanding into the leisure market with a hemp-based energy drink. Luxury consumer products company American Premium Water Corp. (OTC: HIPH) is tapping into a similar market with CBD-infused water. The Supreme Cannabis Company (TSX.V: FIRE) (OTCQX: SPRWF) (FIRE Profile) just launched 7ACRES, an exclusive brand of high-end cannabis flower. And through its focus on research, Insys Therapeutics, Inc. (NASDAQ: INSY) is exploring the use of cannabis to tackle anxiety, autism, and early psychosis.

To view an infographic of this editorial, click here.

Can Cannabis Live Up to Expectations?

After decades exiled to the criminal economy, cannabis is finally finding a place in mainstream business. Liberalizing attitudes, especially in North America, are driving a change in the plant’s legal status. First as a medical drug, then as a recreational one, and finally as a wide range of derivative products, cannabis is turning into big business.

For cannabis users and patients hoping to benefit from it, this is an historic moment. As celebrations around recreational legalization in Canada showed, there’s huge excitement about what the future brings for cannabis fans. Those high hopes come with high expectations, with consumers queueing up to buy their first legal weed, and many expecting to have access to a regular supply from the moment legalization reaches their country or state. But the reality is more complicated, and if the legal industry is to succeed in drawing business away from criminal dealers then it will need to rise to the challenge of meeting uncertain and possibly unrealistic demand.

Cannabis Comes Out of the Shadows

Right now, cannabis is big business. Companies such as SinglePoint, Inc. (OTCQB: SING) are building entire strategies around selling hemp-derived CBD, derivative products, and the support systems needed by cannabis retailers. It seems extraordinary that, only 22 years ago, there was no legal cannabis industry.

Starting in 1996, individual American states began legalizing the use of cannabis for medical purposes. At the time, this was a rare and controversial novelty, tied to the plant’s potential to tackle both pain relief and the high-profile problem of nausea from cancer treatment. In less than a generation, that first drop in the ocean has become a rising tide that looks set to wash away cannabis’s illegality. Thirty-one U.S. states now allow the sale of cannabis for medical purposes. Nine of those states, along with Uruguay and Canada, allow the sale and consumption of cannabis for recreational purposes. Other countries are taking steps towards joining them.

The market isn’t just about straightforward cannabis. Industrial hemp, a form of cannabis that doesn’t get users high, is being used to produce products containing cannabidiol (CBD). Outlets such as SinglePoint’s SingleSeed.com are selling everything from muscle salves to beard oils infused with CBD. CBD is reaching places that more familiar cannabis products can’t.

As a result, SinglePoint’s products are now part of an industry worth billions of dollars. The global market for legal cannabis was worth $7.7 billion in 2016, and it keeps growing, with analysts predicting a value of $65 billion by 2023.

The Challenge of Distribution

This astounding forecast presents a great opportunity for cannabis companies, but it’s not without its problems. Given that there was no cannabis industry two decades ago, there has been an impressive rush to create infrastructure from scratch. Each new burst of growth generates demand for swift innovation, including the establishment of fresh supplies and distribution systems, an area in which SinglePoint specializes.

The challenges of this were well demonstrated when Canada legalized recreational cannabis on October 17. Some licensed shops were unable to obtain supplies of cannabis for days on end and had to turn away customers. In Ontario, no licensed dispensaries are expected until April, and the government store faced more demand than it could possibly handle. Even big companies faced supply chain issues and an uncomfortable few weeks of business. Unable to obtain the cannabis they had been told would be theirs, customers headed back to the black market.

With demand for both cannabis and CBD products rising, but patterns of demand still uncertain, companies are looking for flexible ways to reach their customers. Approaches such as SinglePoint’s online SingleSeed store offer a way to quickly reach a large number of customers, without the geographical limitations of brick and mortar stores. The company has been negotiating additional distribution contracts, as the industry rushes to catch up with customer demand.

Innovative use of technology will be crucial in creating smoothly running, adaptable supply channels. While also applicable to other sectors, SinglePoint’s LastMile delivery platform and SingleCoin digital wallet offer the types of solutions that could make the process of selling cannabis and CBD simpler. With access to an innovative electronic payment system and a delivery product targeted at small and medium businesses, retailers will be able to get started more quickly, serving customers in under-served markets. Technology won’t magically make the sector’s problems go away, but it will make it easier to face them.

More Growing Pain to Come

It’s important for the industry to get solutions such as LastMile into place now, because there are signs that another growth spurt is coming.

Throughout the summer, U.S. politicians have been discussing the 2018 Farm Bill, a wide-ranging bill that will establish U.S. agricultural policy for the next few years. The bill includes a measure that would legalize the growing of hemp, which federal authorities currently only allow in research and test crops. This could lead to potentially huge growth in the production of CBD, tackling some of the supply and demand issues. Though the Farm Bill is currently stalled, it will be a high priority for many politicians after the mid-term elections. And while there is dispute between Republicans and Democrats over other parts of the bill, there is cross-party agreement on the hemp measure.

The passage of this legislation will be good news for SinglePoint and other sellers of CBD products. Researchers at Brightfield Group predicted a doubling in the size of the CBD market to $1 billion from 2017 to 2022, and farmers are eager to grow hemp as a high-value cash crop. Though it will take time to ramp up production, companies that already have distribution infrastructure will be well-positioned to make the most of this growth.

Seizing the Potential of CBD

With the cannabis and CBD market growing, companies are moving fast to create a range of products for the health, well-being, and recreational markets.

Tetra Bio-Pharma, Inc. (OTCQB: TBPMF) is primarily working in medical cannabis. The company is working with drug regulators on pharmaceutical trials to better understand the effects of cannabis and its medical use. In particular, it is working on the use of cannabis to manage chronic pain as a healthier alternative to the opioids currently causing health problems across the United States. Tetra is also using its cannabis expertise to move into the broader CBD sector, offering products such as a hemp-based energy drink, for which it has recently signed a major distribution deal for both U.S. and Canadian markets.

A diversified luxury consumer products company, American Premium Water Corp. (OTC: HIPH) is developing health and beauty products using biotech. American Premiums is using this technology to help the body absorb CBD, courtesy of its Lalpina CBD water. This puts the company at the forefront of development of cannabis-based drinks, which are set to become an important part of the industry. Allowing consumers a more sociable way of consuming cannabinoids, food and drink have the potential to make cannabis and CBD as mainstream as alcohol.

The Supreme Cannabis Company (TSX.V: FIRE) (OTCQX: SPRWF) (FIRE Profile) established 7ACRES as the first licensed producer focused on growing high-quality cannabis in high quantities. Last month, Supreme announced that its initial 7ACRES product was available exclusively online through Canada’s provincially regulated adult-use channels. The full line of 7ACRES products will be available soon both online and in brick-and-mortar stores.

A specialty pharmaceutical company focused on cannabinoids and novel drug delivery systems, Insys Therapeutics, Inc. (NASDAQ: INSY) is involved in several studies with the University of California San Diego School of Medicine. Covering issues such as anxiety, autism and early psychosis, these studies are exploring the untapped potential of CBD. If they prove successful, then the market could see it used in treating a wide range of health problems.

Many companies are working in the cannabis sector and so are now relying on suppliers to tackle problems of distribution and supply. Fortunately, other companies are rising to the challenge, allowing this new industry to sustain its extraordinary growth.

For more information on SinglePoint, visit SinglePoint, Inc. (OTCQB: SING)

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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420 with CNW – Analysts Predict the Medical Cannabis Industry Will Out-Earn the Recreational Market

While the world is still marveling at the bold step that Canada took to legalize recreational marijuana and the resources that the recreational market is likely to command with that legalization, analysts are suggesting that the real money is most likely to be made in the medical cannabis arena.

The medical cannabis market is predicted to be worth approximately $50 billion by 2025. This is a huge jump from what the value of the medical cannabis market was in 2017 (just over $8 billion).

The huge potential for the medical marijuana takes on a bigger positive outlook when one considers the rate at which several countries around the world are legalizing the medical use of cannabis.

The UK plans to allow doctors to start prescribing marijuana in November this year. Malaysia is working out how to permit the medical use of cannabis. Denmark and Luxembourg are also taking steps to legalize medical cannabis.

The rate at which the list of countries where medical marijuana is allowed is growing much faster than the rate at which recreational cannabis can be expected to be decriminalized around the world.

The stigma attached to recreational cannabis use is one of the major reasons why one would be well advised to put their money on medical cannabis instead of thinking of investing in the recreational marijuana sector.

It is significant that the FDA approved a marijuana-based drug in June for the treatment of childhood epilepsy. That was the first time that the U.S. agency approved a cannabis-based drug in a country where the federal government still looks at marijuana as a schedule 1 substance (substances with no medical use and a high likelihood of being abused).

Pharmaceutical companies have also been courting Canadian cannabis industries in order to discuss possible partnerships in developing the medical cannabis sector further. For example, the Canadian division of Swiss-based Novartis International AG has reached an understanding with Tilray Inc. to develop cannabis delivery systems and products jointly.

It should be noted that the pharmaceutical industry carefully weighs the prospects in a given sector before making a commitment. This is because lots of resources are usually invested in R & D before a product ever has a chance to reach the market.

The moves by pharmaceutical firms to partner with cannabis companies is therefore an indicator that the long-term prospects for medical cannabis are solid and major investments can be made into the sector. American marijuana companies like NUGL Inc. (OTC: NUGL) and SinglePoint, Inc. (OTCQB: SING) can only pray that the regulatory climate in the U.S. improves quickly so that they aren’t left behind as the medical cannabis industry evolves rapidly.

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CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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420 with CNW – Walmart Canada Considers Selling Cannabis-Based Products

The Canadian branch of Walmart Inc. has revealed that it is thinking about including cannabis-based products on its shelves.

This announcement makes Walmart the first major retailer to express interest in participating in the cannabis industry. Other major companies from the U.S. to show interest in the Canadian cannabis industry were from the beverage and alcohol industry (Coca Cola and Constellation Brands).

Just how free are these companies when it comes to making decisions about getting involved in the cannabis industry? Market sentiment may be forcing their hand as was seen when Pepsi Cola shares dipped on the stock exchange when the company announced that it had no interest in venturing into the cannabis industry. Other mega brands, fearful of suffering a similar fate, may be sending out feelers to identify at what point they can get on the marijuana wave sweeping everything in its wake.

Marijuana or its derivatives has been linked to several medicinal functions, such as helping people deal with chronic pain. Cancer, pediatric epilepsy, PTSD and other conditions are all said to be improved by cannabis ingredients.

Diana Medeiros, the spokeswoman for Walmart confirmed that the company had conducted some preliminary research but they hadn’t made any decision yet to have CBD products in their stores.

The move by Walmart comes just days before the adult-use of marijuana becomes legal in Canada. Canada is the first country with a large economy to decriminalize recreational marijuana. The retail sales of marijuana in Canada are expected to reach C$10.4 billion by 2025.

Canada’s decision and process is likely to be copied in other developed nations since many are already watching the developments in Canada closely. Canada has started exporting medical cannabis products to different countries, and many developed nations will not want to be left out on the revenues that can accrue from this industry that is enjoying wide popularity across all sections of the population.

The interest shown by large corporations is giving the marijuana industry positive publicity, something that is likely to fuel the push for further legalization in jurisdictions where marijuana is still prohibited.

It is that same interest in revenue that is driving decriminalization in several U.S. states. For example, New Hampshire is already calculating the potential tax revenues from the cannabis industry ahead of legalization. Such forces are likely to play a major part in any decision made regarding the legalization of marijuana.

Whether Walmart sells CBD products or not, cannabis industry players like Phivida Holdings Inc. (CSE: VIDA) (OTCQX: PHVAF) and SinglePoint, Inc. (OTCQB: SING) welcome the buzz that their interest has created around the cannabis industry.

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CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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420 with CNW – Seattle Court Agrees to Vacate Marijuana Misdemeanor Convictions

All the seven judges of the Seattle Municipal Court have agreed to vacate all the convictions for marijuana possession dating back to 1996 when cannabis had not yet been decriminalized. The judges also made a decision to dismiss all cannabis possession charges against anyone who was being prosecuted within the jurisdiction.

This decision is the culmination of a process that started in February when Peter Holmes, the City Attorney, filed a motion calling on the court to take this historic action. He said that step was needed to right the wrongs committed against people of color, especially African Americans, who had been targeted during the drug war. Approximately 46% of all people prosecuted were African American.

The judges agreed with his motion and directed that the state should provide the last known addresses of the individuals affected by the court’s decision so that notices could be mailed to them about what has been agreed upon by the judges. About 542 individuals could benefit from the court’s ruling.

The people with marijuana criminal records now have 33 days within which to object to the court’s decision or file a request for an individualized finding.

Jenny Durkan, the Seattle mayor, welcomed the decision saying that the misdemeanor record had denied hundreds of people numerous opportunities ranging from jobs, education, housing and loans. Vacating the convictions would therefore give the affected people a chance to rebuild their lives even if the harm they suffered earlier could not be undone.

The period covered by the court’s decision was determined based on the years during which the Seattle Municipal Court had jurisdiction over marijuana misdemeanor cases. That jurisdictional authority started in 1996.

The decision to vacate those convictions hasn’t just dropped upon the city. Earlier in 2003, a decision was made by the voters to compel law enforcement agencies to take marijuana possession cases to the bottom of their priority list.

In 2010, another major step was taken by the City Attorney (Holmes) to halt the prosecution of people for cannabis possession.

It has taken months to figure out how to implement the decision to vacate the convictions because non-citizens would still be regarded as ex-cons by the immigration authorities since marijuana is still illegal at the federal level.

The court decided that any non-citizen who wanted a ruling that their previous marijuana conviction could no longer affect them in an immigration court could apply in that 33-day window mentioned in the court’s decision. Phivida Holdings Inc. (CSE: VIDA) (OTCQX: PHVAF) and SinglePoint, Inc. (OTCQB: SING) must be glad that the court gave ex-cons that clean slate since the measure can be an additional way to remove the stigma that has shrouded marijuana for so long.

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CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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420 with CNW – Study Suggests CBD Could Treat Psychosis

Researchers from King’s College London have found that a cannabis extract, cannabidiol (CBD), can reset the brain so that the abnormal reactions characteristic of psychosis is reduced.

Their findings were published in the JAMA Psychiatry journal. The researchers were led by Sagnik Bhattacharyya, PhD., who works at King’s College London at the Institute of Psychiatry, Psychology and Neuroscience.

The team recruited 33 young people who hadn’t been diagnosed with psychosis but displayed the classic symptoms of that condition. Nineteen control subjects were also included in the study.

These study subjects were divided into three groups. One group had the control subjects while another group had 16 youths showing symptoms of psychosis. The third group had 17 psychotic youths.

The brain activity of all the study subjects was studied and recorded using functional Magnetic Resonance Imaging (MRI). Then, one group of the psychotic subjects was given a single dose of CBD while the other group received a placebo.

The three groups were then given a memory test designed to activate the same areas of the brain that fire abnormally in psychotic individuals. MRI scans were done as the study subjects completed the memory test.

The scan results revealed that the psychotic youth who were given CBD showed a reduced level of abnormal brain activity in the target brain regions. This reduction of abnormal activity brought the performance of those subjects to almost the same level as the level of the control subjects.

The researchers welcomed these results for several reasons. First, CBD seemed to be well tolerated by all the subjects who received it. This is unlike contemporary medicines, which aren’t tolerated by some patients.

Secondly, CBD showed promise as a substance that can be used to treat young people who are at risk of developing psychosis. Currently, there is no medication that can be used for such people, because what is available is too strong and causes several adverse reactions.

Interestingly, an earlier study at the same university established that CBD counteracts the effects of THC (tetrahydrocannabidol), the cannabis ingredient which can cause psychosis.

The King’s College London researchers now plan to conduct a larger clinical trial that will include several trial centers. This follow-up study will provide more concrete answers about the possibility and mechanism of treating psychosis with cannabis extracts.

Such studies that unearth the promising cannabis cures are encouraging to companies like ChineseInvestors.com (OTCQB: CIIX) and SinglePoint, Inc. (OTCQB: SING), which are involved in the young cannabis industry.

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CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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Cannabis Industry Leads the Way in Payments Revolution

CannabisNewsWire Editorial Coverage: Financial services are undergoing a period of change as high-risk businesses, often excluded from conventional banking systems, search for alternative ways to process payments. Companies such as Global Payout, Inc. (OTC: GOHE) (GOHE Profile) are providing payment systems for high-risk ventures such as the cannabis industry, saving vendors from the need to operate exclusively on cash. SinglePoint, Inc. (OTCQB: SING) is also working in this sector, while bringing bitcoin payments into the mainstream. MassRoots, Inc. (OTCQB: MSRT) is moving from the cannabis sector into payment processing, adapting its expertise in cannabis tech solutions to provide financial services. Cannabis grower iAnthus Capital Holdings, Inc. (OTCQB: ITHUF) is looking at the wider set of managerial and service solutions that high-risk companies need, and smartphone payment provider Glance Technologies, Inc. (OTCQB: GLNNF) is also moving into the sector through an investment in cannabis sector intelligence and analysis.

The Payment Problem

Recent years have seen high-risk industries facing increasingly tough times in accessing banking and payment services. In the United States, the government-backed Operation Chokepoint discouraged banks from providing services to industries with a high risk of fraud, such as gun sellers and payday lenders. Meanwhile, federal legislation from the war on drugs hampers finance for cannabis businesses in states where the drug has been legalized. Despite the repeal of Operation Chokepoint (http://cnw.fm/Nof7L), the threat of government scrutiny still limits the willingness of banks to provide financial services to these businesses. Even in Canada, which is due to legalize recreational cannabis this summer, banks are only now making tentative steps toward supporting the industry (http://cnw.fm/mE49s)

The cannabis industry is leading the way in finding solutions to this problem. As marijuana legalization spreads across the United States and beyond, a growing industry needs basic financial services; the alternative is to continue in a cash-based economy with the associated risks of fraud, error and theft. Businesses are stepping in to fill the need.

Financial Solutions for a Changing World

Global Payout, Inc. (OTC: GOHE) is among the companies providing solutions for high-risk businesses. Global Payout started out as an innovative supplier of financial services to mainstream businesses. In an increasingly complex world of international transactions, managing finances can be a complicated and messy job. Web-based applications offer a potential solution, but the wide variety of financial transactions has created challenging complications.

The solution provided by Global Payout is the Global Reserve Platform (GRP). A banking-in-a-box system, GRP provides a fully customizable financial system that allows businesses to handle the full range of financial transactions in one place. From managing government benefits to making biometric payments, the system offers everything a business needs. Additionally, because the setup can be adapted to the needs of different companies, it doesn’t force companies to accept a one-size-fits-all solution.

GRP is geared toward bridging divides between conventional banking and the businesses it serves. Global Payout has dealt with the practicalities of providing payment solutions in the mainstream, and, now, the company is applying its knowledge and expertise to the more challenging world of high-risk business.

Catering to the Cannabis Market

The company’s foray into this area is being led by its partner, MoneyTrac Technology, Inc. MoneyTrac is specifically geared toward serving the cannabis industry in the United States and beyond.

Because of its particular legal challenges, both internationally and within the United States, the cannabis industry may be the most in need of unconventional banking solutions. In many cases, cannabis businesses can’t access normal banking solutions as part of their daily work, making it difficult to manage payments from customers. This industry, therefore, may be the perfect sector in which to test alternative payment solutions.

Much like Global Payout, MoneyTrac provides a customizable web-based payment system. Powered by blockchain technology, the system provides fast, secure payment options that plug into conventional banking systems at either end, making it easy for customers to pay into the system and for businesses to extract their funds. This high-tech banking solution — MTRAC — was launched on April 4 (http://cnw.fm/st6rB), providing a solution for a sector in need.

“The goal of MTRAC from the beginning has been to leverage the different technologies available to us to remove the use of cash as the primary form of payment throughout the cannabis industry,” MoneyTrac CEO Vanessa Luna stated in a news release. “While other companies have struggled to find supportive financial solutions, MTRAC opted to take a different approach, and one that has relied heavily on the use of blockchain technology to address this problem for a massive and growing industry.”

By providing a payment system for the cannabis industry, MoneyTrac is fulfilling its “Key to Cashless™” objective. This has been achieved through partnerships with a range of companies in the cannabis and technology sectors, including Integrated Compliance Solutions, Crypto Value Management Systems (http://cnw.fm/K8xYY) and Greenbox (http://cnw.fm/DOv0r). By bringing together the needs of a specific sector and the potential of blockchain technology, MoneyTrac is carving out a niche in the field of high-risk payments.

Beyond the Basics

There may even be great potential for MoneyTrac’s payment solution to reach beyond the limits of the cannabis sector. The Federal Deposit Insurance Corporation (FDIC) has encouraged banks to provide services to businesses based on risk-based analysis (http://cnw.fm/d2UsM) rather than cutting off entire sectors from key financial services. Despite this, banks remain wary of high-risk customers, due to both the financial and the legal risks. Given the inherent conservatism of established banks, the situation is not unexpected, creating a space for disruptive payment providers such as MoneyTrac to fill the gap.

The company has begun diversifying its services in other ways as well. Through an investment in cannabis community periodical PotSaver, it has been able to expand its reach within its core customer base. PotSaver will be providing readers with money-saving deals on a range of products not limited to cannabis and its paraphernalia. Simply by being part of the broadening of that community, MoneyTrac is investing in reaching beyond cannabis.

A New Financial Sector

As the new financial sector is evolving, a variety of companies have advanced alternative payment solutions and financial systems. Like Global Payout, SinglePoint, Inc. (OTCQB: SING) is working to provide financial services to the cannabis sector. The two companies have worked together on providing streamlined payment services based on blockchain technology. SinglePoint is also heavily invested in bringing the cryptocurrency sector into the mainstream. The company is currently building out its bitcoin payments solution that will enable customers to pay for cannabis with cyrpto currency instantly at the point of sale.

Cannabis company MassRoots, Inc. (OTC: MSRT) is approaching the finance sector from another angle. The company is already providing a service to help customers judge the efficacy of cannabis strains and products, thereby demonstrating its ability to provide technological solutions to the needs of the sector. Now, it is establishing a subsidiary focused on blockchain, the technology at the core of cutting-edge payment solutions for high-risk industries. This will allow the company to provide financial services for cannabis suppliers and their consumers.

Finance isn’t the only support service that cannabis companies are looking to reshape to suit their needs. iAnthus Capital Holdings, Inc. (OTCQB: ITHUF), an operator of cannabis facilities across the United States, is expanding into a range of support services. Its acquisition of Pilgrim Rock Management, LLC (http://cnw.fm/X7PbJ) provides it with intellectual property licensing, professional and management services, and real estate and equipment leasing — all geared toward its core business.

Glance Technologies, Inc. (OTCQB: GLNNF) offers another alternative approach to payment through its smartphone-based payment system. This streamlined payment process allows users to easily make and track payments. Glance’s blockchain-based rewards system is being integrated into the app. The company recently invested in Loop Cannabis Insights Inc., providing it with more insight into the high-risk businesses that could benefit from its product.

Alternative payment systems offer a much-needed solution for high-risk businesses that struggle to access traditional finance. While the cannabis industry is providing a testing ground for these services, they are already spreading to the wider economy, allowing more people access to efficient payment systems.

For more information on Global Payout, visit Global Payout (OTC: GOHE).

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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DISCLAIMER: CannabisNewsWire (CNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. The commentary, views and opinions expressed in this release by CNW are solely those of CNW. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW for any investment decisions by their readers or subscribers. CNW is a news dissemination and financial marketing solutions provider and is NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, CNW, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment.

CNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and CNW undertakes no obligation to update such statements.

Cash-Heavy Cannabis Industry Looking for Alternative Fintech Banking Solutions

CannabisNewsWire Editorial Coverage: In a world where legal cannabis is rapidly becoming more mainstream, a vexing financial issue continues to haunt the businesses and consumers taking part in this multibillion-dollar industry; namely, what to do with all that cash when federally chartered banks can’t accept it and credit card companies won’t touch it.  Marijuana is still a federally prohibited substance, after all, which makes businesses that handle the highly regulated plant outcasts when it comes to traditional banking methods. This aversion to risk, as defined by the banking sector, is actually a welcome opportunity for companies that cater to “high-risk” industries, such as the rapidly expanding and lucrative legal cannabis market. Among the top players enabling marginalized cannabis-related businesses and other high-risk industries to thrive are Global Payout, Inc. (OTC: GOHE) (GOHE profile), Medical Cannabis Payment Solutions (OTC: REFG), CannaRoyalty Corp. (OTCQX: CNNRF), SinglePoint, Inc. (OTCQB: SING), and MassRoots, Inc. (OTCQB: MSRT).

Billions Upon Billions

While the legal cannabis industry may just be getting started in the United States, it is expected to generate nearly $57 billion in worldwide sales by 2027, according to a Forbes article quoting Arcview Market Research (http://cnw.fm/C7wd8). The adult use market for recreational cannabis will get the lion’s share of that spending — 67 percent — while medicinal cannabis gets the remaining 33 percent. And that’s just the beginning, according to Arcview’s analysis, with the largest group of those cannabis spenders coming from North America. These folks are expected to shell out $9.2 billion in 2017 and more than $47 billion a decade later. That, as Carl Sagan would say, is “billions upon billions” of big bucks.

Is Cash Really King?

Lack of access to traditional banking services means legal cannabis businesses and their customers are usually dealing solely in cash. Some cannabis dispensaries can conceivably do $1 million a month in business, attorney James Smith says (http://cnw.fm/XWWx4).

“You don’t want that to be cash,” said Smith, a founding partner at Smith, Costello and Crawford, a firm which represents cannabis companies. “The state doesn’t want it, the industry doesn’t want it, even the federal government doesn’t want it.”

Keeping large amounts of cash onsite raises the risk of theft or embezzlement and increases the cost of security measures. MoneyTrac Technology, Inc. (“MTRAC”), a partner of Global Payout, Inc. (GOHE), is taking aim at solving this industry-wide concern with a full-service banking solution powered by GreenBox blockchain technology. MTRAC’s payment solution offers cashless methods to process payments for consumers and gives business owners the ability to remit payments to vendors, employees and other business affiliates.

Key to Cashless™

Unbanked cash presents a host of problems for business owners and the states in which they are licensed to do business. Even Canada, which is poised to legalize recreational cannabis for adult use by the end of the summer, is struggling with the issue since many of its largest banks steer clear of the cannabis industry. That may change in Canada once full legalization takes place, according to an article in Marijuana Business Daily (http://cnw.fm/wQi0V).

But why wait for traditional financial institutions to solve a problem when several companies have been working hard to provide a solution? Global Payout’s MoneyTrac Technology specifically offers alternative fintech banking solutions to these high-risk industries in the United States, Canada and Mexico.

“The goal of MTRAC from the beginning has been to leverage the different technologies available to us to remove the use of cash as the primary form of payment throughout the cannabis industry,” said MTRAC CEO Vanessa Luna in a news release (http://cnw.fm/xX6yC). “While other companies have struggled to find supportive financial solutions, MTRAC opted to take a different approach, and one that has relied heavily on the use of blockchain technology to address this problem for a massive and growing industry.”

Inside the Box

MTRAC’s revolutionary payment process for businesses operating across a wide array of alternative high-cost and high-risk industries utilizes closed-loop blockchain technology. Simply put, merchants and consumers are assured that currency moved into MTRAC’s system, either in the form of cash or through a debit/credit card via MTRAC Kiosk or a customer/merchant e-wallet, is converted to a digital representation of the currency’s value using secure, encrypted digital keys.

The MTRAC Kiosk, powered by the forward-thinking blockchain technology solutions offered by GreenBox, can be placed in any business that wishes to go cashless, making it simple and easy for merchants and customers alike to complete financial transactions. The concept is already generating buzz as MTRAC and GreenBox share their innovative payment solution with industry leaders in fields such as energy, water-tech, IoT, mobile and electronic payments, and security technologies (http://cnw.fm/z5UcA).

Looking Back

Several years ago, the Federal Deposit Insurance Corporation (FDIC) issued a Financial Institution Letter aimed at encouraging depository institutions to serve their communities by taking a risk-based approach when considering customer relationships instead of declining to provide banking services to an entire category of customers. That was in 2015, and, to date, little has changed when it comes to whether banks and credit unions are interested in welcoming the cannabis industry with open arms. Out of more than 16,000 FDIC and NCUA depository institutions registered in the United States, a 2017 federal report on marijuana banking noted only 400 of the institutions currently work with marijuana-related businesses (http://cnw.fm/s3TXu).

Catering to these “unbankable” businesses is exactly what Global Payout planned to do in 2015 when MoneyTrac Technology Inc. was brought under the company’s banner. The goal, then and now, is to focus on the development of financial technologies that specifically address many of the challenges that enterprises in a variety of alternative and high-risk market sectors face in processing financial transactions. MTRAC may be one of the most configurable and intuitive financial technology platforms available to alternative and high-risk enterprises, providing solutions that effectively manage everything from pin debit and virtual currency to compliance and cash flow logistics.

Playing a Pivotal Role

MTRAC’s commitment to working with the burgeoning cannabis industry is illustrated by the company’s recent announcement that it has joined the National Cannabis Industry Association at its highest membership level. The NCIA connects organizations, builds networks and serves as an advocate for the cannabis industry nationwide. Advocacy is encouraged as the cannabis industry continues its push for legitimacy and legalization, the NCIA states on its website (https://thecannabisindustry.org/).

“NCIA truly represents one of the most important and valuable associations in our industry,” Luna said in a new release published on CannabisNewsWire (http://cnw.fm/bCD0N). “Their hard work and advocacy over the past 17 years has played a pivotal role in helping to pave the way for the growth and continued legitimacy of this industry as well as in being a crucial resource to the thousands of businesses, such as MoneyTrac, who are committed to conducting business the right way, in an industry that remains highly scrutinized.”

The Home Stretch

Canada’s push to legalize recreational cannabis for adult use is being carefully watched on many fronts. Canadian lawmakers are still in the process of fine-tuning and adjusting the legislation that many expect to be in full force by September. Canadians are being assured that the government is planning “orderly implementation nationwide” with an overriding policy goal of keeping cannabis out of the hands of children (http://cnw.fm/0jyV7).

Even if select Canadian banks decide to finance cannabis operations or purchases, many are concerned about jeopardizing their operations based in the United States, where cannabis remains illegal at the federal level (http://cnw.fm/4PkeV).

Opportunity Beckons

The launch of MTRAC’s full-service banking solution, powered by GreenBox blockchain technology, offers the cannabis industry and other high-risk sectors cashless payment options they desperately need, Luna said (http://cnw.fm/3neCm).

Joining the effort to provide cannabis dispensaries and related businesses with payment solutions is Medical Cannabis Payment Solutions (OTC: REFG). After working with targeted participants in the state-sanctioned cannabis industry, Medical Cannabis Payment Solutions has rolled out its payment system to serve the global medical cannabis and banking industry.

“This fully concludes our transition from development stage and government relations to revenue stage,” said Jeremy Roberts, CEO of Medical Cannabis Payment Solutions. “We’re excited to bring our services to the industry and to bring increased value to our shareholders.”

Medical Cannabis Payment Solutions was developed to solve a major problem in state-sanctioned marijuana: banking and cashless payments. The company’s cutting-edge payment solution allows consumers to buy items using U.S. currency and will soon allow Bitcoin, Roberts said in a news release (http://cnw.fm/lh4xO).

Building and supporting a diverse portfolio of businesses ready to grow in high-value areas of the cannabis sector is the aim of Ontario-based CannaRoyalty Corp. (OTCQX: CNNRF). These areas include research and brand development, devices and intellectual property. In 2017, CannaRoyalty co-launched Trichome Yield Corp. (“Trichome”) to be a preferred asset-backed lending partner to emerging and established Canadian and global cannabis companies.

CannaRoyalty also recently announced its acquisition of three California cannabis-related businesses: RVR, a large-scale distributor of both medical and recreational cannabis brands; Alta Supply, a smaller distributor of medical marijuana; and Kaya Management, a maker of edibles and vaporizers (http://cnw.fm/rU7cL).

Providing full-service mobile technology solutions keeps SinglePoint, Inc. (SING) in the spotlight as the company capitalizes on two high-performing market sectors: legal cannabis and cryptocurrencies. In a March 7, 2018, shareholder update, SinglePoint announced the soft launch of its SingleSeed Bitcoin payments solution. SingleSeed stands to address the lack of viable payment options for the cannabis industry by providing a user-friendly, easy-to-track transactional platform that enables merchants to accept non-cash payments (http://cnw.fm/dht1X). SinglePoint also recently announced the official launch of SingleSeed’s newly updated website, which is focused on selling cannabidiol (“CBD”) based products direct-to-consumer (http://cnw.fm/f9D4M).

MassRoots, Inc. (OTC: MSRT) has developed a technology platform for the cannabis industry and its users. The company’s technology platform enables cannabis consumers to join a social network, which is accessible through several portals and mobile apps. Cannabis enthusiasts can post reviews, follow their favorite dispensaries and stay connected with the cannabis legalization movement (https://www.massroots.com/). MassRoots recently formed a subsidiary focused on utilizing blockchain in the cannabis industry, which pairs well with the company’s marketing strategy of building technology platforms for the regulated cannabis industry. The company’s mobile apps have more than 1 million registered users.

Economic Impact

The ongoing regulatory uncertainty that surrounds legalized cannabis in the Unites States. can be a divisive conversation among lawmakers, the cannabis industry and members of the public. It is a topic not likely to go away as more states consider measures to legalize cannabis in some form or another. One thing all parties can agree on, however, is businesses that work mainly in cash invite a myriad of problems. Reducing that risk by providing alternative cashless payment solutions offers safeguards traditional banking isn’t able or willing to give at this time.

For more information on Global Payout, Inc., please visit: Global Payout, Inc. (GOHE).

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

Receive Text Alerts from CannabisNewsWire: Text “Cannabis” to 21000

For more information please visit https://www.CannabisNewsWire.com and or https://CannabisNewsWire.News

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
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DISCLAIMER: CannabisNewsWire (CNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. The commentary, views and opinions expressed in this release by CNW are solely those of CNW. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW for any investment decisions by their readers or subscribers. CNW is a news dissemination and financial marketing solutions provider and is NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, CNW, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment.

CNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and CNW undertakes no obligation to update such statements.

SinglePoint, Inc. (SING) Details OTCQB Uplisting, New Board Appointment

  • Recent uplisting to the OTCQB Venture Market improves company profile
  • New board appointment of Mr. Venugopal Aravamudan, with over 25 years of experience in technology development with major companies
  • SinglePoint will leverage this experience to expand its reach into global markets

On February 14, 2018, SinglePoint, Inc. (OTCQB: SING) released an update for shareholders regarding its recent uplisting to the OTCQB Venture Market (http://cnw.fm/w8eUZ). With a market cap of just over $65 million, the company is currently busy completing its 2017 audit for the imminent reporting of its financial results. SinglePoint places great importance on becoming fully reporting so as to increase transparency and improve credibility with shareholders. This way, the company will increase its exposure to institutional investors and attract further direct investment through the open market.

SinglePoint’s uplisting to the OTCQB marketplace required the addition of another board member. As such, the company announced its addition of Mr. Venugopal Aravamudan to the board. Aravamudan has more than 25 years of experience in growing and leading technology developments for major companies, including Microsoft (NASDAQ: MSFT), Amazon (NASDAQ: AMZN), VMware (NYSE: VMW) and F5 Networks Inc. (NASDAQ: FFIV). He is currently senior vice president and general manager of F5 Networks, where he is responsible for its next generation cloud services products.

SinglePoint intends to leverage Aravamudan’s expertise in cloud computing technology to accelerate the company’s capability to deliver blockchain-enabled solutions on a large scale. This will enable SinglePoint to build global capabilities for service delivery and ensure substantial growth at the next level. In a news release, the company’s president, Wil Ralston, had this to say on this exciting appointment: “We are very happy Mr. Aravamudan has joined us. This gives us the expertise we need for accelerating the right set of technology based Joint Ventures, Acquisitions and other interesting Big Data plays that unlock the potential for blockchain applications.”

SinglePoint intends to launch its bitcoin payments processor via subsidiary SingleSeed, during the first quarter of 2018. SingleSeed will initially provide a platform for both consumers and retailers in the legal cannabis industry to process payments using cryptocurrency. The app provides a much needed payment solution for most operators in the cannabis sector who cannot access traditional banking processes. Built to accommodate bitcoin payment, SingleSeed will be extended to facilitate other cryptocurrency payments, most notably ethereum.

The SingleSeed app is user-friendly and a win-win solution for merchants and consumers, enabling easy account registration and fast point-of-sale transactions. The downloadable app will enable retailers to post photographs and descriptions of their products, while employing text messaging to market their offerings, develop customer relationships and build trust. Developed specifically to provide a payment solution for the cannabis industry, SingleSeed can be customized as a payment platform for any other industry.

Toward the end of last year, SinglePoint entered into joint venture agreements with Global Payout, Inc. (OTC: GOHE) and AppSwarm (OTC: SWRM). Global Payout provides multi-national companies with customized payment and mobile banking solutions, merchant processing services and payment system consulting services. AppSwarm focuses on technology development for mobile applications and has established agreements with several application stores. These strategic alliances will strengthen SinglePoint’s cryptocurrency payment solutions, providing value-added offerings that will include licensed in-home delivery options.

SinglePoint’s new board appointment and recent uplisting to the OTCQB Venture Markets are set to take the company in a new direction. They could position the organization strongly for the upscaling of its operations and the acceleration of its growth into global markets.

For more information, visit the company’s website at www.SinglePoint.com

More from CannabisNewsWire

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
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www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.net