First Bitcoin Capital Adds Innovative Automated Check Cashing
ATM Solution For Cannabis Dispensaries Clientele
VANCOUVER, BC -- January 12, 2017 -- InvestorsHub NewsWire --
FIRST BITCOIN CAPITAL CORP. (OTCMARKETS: BITCF), a leading bitcoin
and cryptocurrency developer, specializing in both blockchain and
online merchant payment solutions for medical marijuana
dispensaries and other high-risk merchant accounts and services,
today announced the signing of an Exclusive Master Distributor
Agreement to distribute a new type of fully automated check cashing
ATM designed for use in medical cannabis dispensaries for the State
of California. BITCF will add this check cashing ATM service to
complete a full suite of financial services for the medical
marijuana industry: merchant processing and POS solutions through
its alliance network, a fully compliant, user friendly solution to
accept Credit and Debit Cards through traditional Merchant Card
Processing networks. The check cashing ATMs marketing efforts will
be focused toward larger established medical marijuana
dispensaries.
Fees for the check cashing services will be competitive.
Dispensary customers using the service will be able to cash all
types of checks: government issued checks, payroll checks and other
types. Cannabis dispensaries service all kinds of customers. Many
of those are unbanked and may need to cash checks before
purchasing. Offering check cashing services on premises to this
group of customers will be a very attractive way to increase
revenues, as dispensary owners are looking for new ways to draw
more customers because of check cashing convenience.
According to FDIC (Federal Deposit Insurance Corporation) recent
2015 National Survey of Unbanked and Underbanked Households,
indicates that more than 7 percent of households in the United
States were unbanked in 2015. This proportion represents
approximately 9.0 million households. An additional 19.9 percent of
U.S. households (24.5 million) were underbanked, meaning that the
household had a checking or savings account but also obtained
financial products and services outside of the banking system. By
offering check cashing, our ATM Division expects that dispensaries
will increase their customer base by 18%.
BITCF uses sophisticated fully automated risk analysis
algorithms and underwriting procedures, resulting in 100% guarantee
to the dispensary owners.
Summary of benefits of our services for the cannabis
dispensaries and their customers:
Any types of checks can be cashed, including Payroll checks,
Insurance checks, Personal checks, business checks, money orders,
government issued checks and the funds can be credited to the
Dispensaries bank account instead of the their client pulling out
and paying in cash.
Regulatory Compliance: The check cashing ATM will be installed
pre-programmed to comply with all state, local federal regulations
in California.
First Bitcoin is also developing a system that will enable
dispensaries to accept Bitcoin and other cryptocurrencies as a form
of legal payment. Stater of California has already enacted
legislation that makes Bitcoin and similar digital currencies legal
tender.
BITCF has developed specific programs to meet the unique needs
of the medical cannabis industry. Offering merchant services at
competitive rates for businesses operating legally under state law
of California and Oregon, the company can now provide financial
services not typically available from conventional banks.
While legalization of marijuana in many forms and in many states
garnered over $5 billion dollars in 2016, the sums are expected to
grow for 2017. More innovative and unique products are being
created, and the stigma that once surrounded cannabis is slowly
fading. These changes are helping the medical cannabis industry to
prosper now that federal policies allow dispensaries to sell, grow,
or possess cannabis while compliant with state laws. BITCF will
only provide these services where federal policies allow our
business model to proceed for dispensaries that are fully compliant
with state and country laws, rules and regulations.
Should your dispensary be interested in these services please
contact us by email: info@bitcoincapitalcorp.com
About the company:
First Bitcoin Capital is engaged in developing digital
currencies, proprietary Blockchain technologies, and the digital
currency exchange- www.CoinQX.com. We see this step as a tremendous
opportunity to create further shareholder value by leveraging
management's experience in developing and managing complex
Blockchain technologies, developing new types of digital assets.
Being the first publicly-traded cryptocurrency and
blockchain-centered company (with shares both traded in the US OTC
Markets as [BITCF] and as [BIT] in crypto exchanges) we want to
provide our shareholders with diversified exposure to digital
chttp://cbds.com/ryptocurrencies and blockchain
technologies." At this time the Company owns and operates the
following digital assets.
www.CoinQX.com cryptocurrency exchange, registered
with FINCEN.
www.iCoiNEWS.com real time cryptocurrency and bitcoin
news site.
www.BITminer.cc providing mining pool management
services.
www.2016coin.org online daily election coverage and
home page for $PRES, $HILL, $GARY& $BURN -commemorative
presidential election coins.
www.bitcannpay.com Financial and merchant services for
medical cannabis dispensaries.
Forward-Looking Statements
Certain statements contained in this press release may
constitute "forward-looking statements." Forward-looking statements
provide current expectations of future events based on certain
assumptions and include any statement that does not directly relate
to any historical or current fact. Actual results may differ
materially from those indicated by such forward-looking statements
as a result of various important factors as may be disclosed in
company's filings. In addition to these factors, actual future
performance, outcomes, and results may differ materially because of
more general factors including (without limitation) general
industry and market conditions and growth rates, economic
conditions, and governmental and public policy changes. The
forward-looking statements included in this press release represent
the Company's views as of the date of this press release and these
views could change. However, while the Company may elect to update
these forward-looking statements at some point in the future, the
Company specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as
representing the Company's views as of any date subsequent to the
date of the press release .Such forward-looking statements are
risks that are detailed in the Company's filings, which are on file
at www.OTCMarkets.com.
SOURCE: First Bitcoin Capital Corp.
Contact us via: info@bitcoincapitalcorp.com or visit http://www.bitcoincapitalcorp.com
