SinglePoint, Inc. announced its initiative to develop a bitcoin payments solution in partnership with First Bitcoin Capital Corp. The two companies signed a Joint Venture agreement to develop and distribute a viable payments solution using block chain technology. First Bitcoin Capital is an industry leading Bitcoin and blockchain technology provider and SinglePoint has a deep history in distribution.

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. With the massive and widespread adoption of Bitcoin worldwide, the two companies will pursue opportunities to leverage their payment technology background and develop a proprietary solution specifically for high-risk payment verticals including the cannabis industry. SinglePoints' representation at Mobile World Congress in Barcelona this year saw many solutions being utilized in other countries based on Bitcoin and other crypto currencies such as Ethereum.

SinglePoint and First Bitcoin Capital believe they have found a way for the customer experience to go unchanged at the point of sale when paying with a credit or debit card at medical and recreational cannabis dispensaries. Under this initiative, the companies will offer a best-in-class Bitcoin solution to fill the payments gap that currently exists.