Medical Cannabis Payment Solutions to accept bitcoin

Medical Cannabis Payment Solutions (OTC: REFDG) will soon accept bitcoin on its payment processing platform that serves legal marijuana sellers.

The Nevada-based company already deals with US currency transactions through a payment application called Green. By adding crypto currency to the platform, the company said it hopes to quickly become "bitcoin-acceptable".

“Traditional banking systems do not allow state-sanctioned marijuana to access their payment systems,” said Jeremy Roberts, CEO of Medical Cannabis Payment Solutions, in a statement. “The feedback we have received indicates that the opportunity is bigger than just cashless electronic payments in US currency.”

Companies of all stripes have been slowly adopting bitcoin payments as the price of the cryptocurrency recently reached mania levels. There’s also been a push among banks and other traditional financial institutions to integrate blockchain the underlying technology behind bitcoin, as a secure option in digital transactions.

“Our security, regulatory compliance and pricing give us a huge competitive advantage,” Roberts said. “The ability to process bitcoin will make us that much more attractive to marijuana establishments and, perhaps more importantly, their clients.”
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