SinglePoint, a US-based company that specializes in acquisitions of small to mid-sized companies is developing a Bitcoin payments solution in partnership with First Bitcoin Capital. The two companies signed a Joint Venture (JV) agreement to develop and distribute a viable payments solution using blockchain technology.
First Bitcoin Capital is a Bitcoin and blockchain technology provider, and acquires Bitcoin startups, raise funding and invest in companies that are developing Bitcoin software or hardware applications. The two companies believe this partnership will enable each company to focus on their core strengths to build and supply the best Bitcoin solution available.
SinglePoints’ representation at Mobile World Congress in Barcelona this year saw many solutions being utilized in other countries based on Bitcoin and other cryptocurrencies such as Ethereum. Under this initiative, the companies aim to offer an effective Bitcoin solution to fill the payments gap that currently exists.
“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. There is now tremendous momentum and demand for bitcoin acceptance as an alternative form of payment,” said Greg Lambrecht, CEO, SinglePoint.
“This Joint Venture with First Bitcoin Capital is perfect timing. Bitcoin payments are catching on and cannabis dispensaries need a solution fast,” Lambrecht added.
SinglePoint has already made technology integrations with companies such as Twilio, RedFynn, IATS, and all the major carriers ATT, T-Mobile, Sprint and Verizon, which has enabled the company to provide its text message marketing and text based payment solutions. First Bitcoin Capital and SinglePoint now plan for this technology to be easily implemented into any Point of Sale machine through a simple download of the application.
“We are optimistic that our partnership with SinglePoint will produce positive cash flow to our bottom line. Between the two of our companies, we will have the ability to develop a best in class solution and SinglePoint will be able to help in distribution. We look forward to providing cutting edge products and services to all states through the establishment of this new venture,” said Greg Rubin, CEO, First Bitcoin Capital.
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