ATLANTA, Feb. 17, 2021 (GLOBE NEWSWIRE) -- Labor SMART, Inc. (LTNC) (the “Company”), a leader in providing on-demand blue collar staffing primarily in the southeastern United States, today announced the decision to accept Bitcoin and Ethereum as payment methods for its services.
As more institutions adopt cryptocurrency into their asset management strategies, the Company believes offering BTC and ETH as payment options will expand client flexibility.
Ryan Schadel, President and CEO of Labor Smart stated, “Every week, we generate invoices and send them to our clients. If we take a credit card payment for the invoice, we are paying up to 3% for merchant services. If we take a check as payment, we are waiting 4 or 5 weeks to be paid. If we borrow against the receivable for cash flow, we are paying 2 or 3%. By giving our clients the option to pay in Bitcoin or Ethereum, not only are we giving them more flexibility with how they manage their own cash flow, but we will save on processing fees.”
Mr. Schadel continued, “Mainstream institutions are embracing crypto for its potential as a value store, payment method, and investment. As we continue to expand our business, we now have another valuable selling point. I believe crypto will be the preferred payment standard of the future and we are proud to be the very first in the staffing industry to accept crypto as payment.”
The Company expects the payment method to be live by mid-March via Coinbase.
On February 12, 2021, the Company disclosed its intentions to become current with otcmarkets.com.
About Labor SMART, Inc.
Labor SMART, Inc. provides On-Demand temporary labor to a variety of industries. The Company's clients range from small businesses to Fortune 100 companies. Labor SMART was founded to provide reliable, dependable and flexible resources for on-demand personnel to small and large businesses in areas that include construction, manufacturing, hospitality, event-staffing, restoration, warehousing, retailing, disaster relief and cleanup, demolition and landscaping. Labor SMART believes it can make a positive contribution each and every day for the benefit of its clients and temporary employees. The Company's mission is to be the provider of choice to its growing portfolio of customers with a service-focused approach that enables Labor SMART to be seen as a resource and partner to its clients.
Safe Harbor Statement
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Labor SMART, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may", "would", "will", "expect", "estimate", "can", "believe", "potential", and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Labor SMART, Inc.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Labor SMART, Inc.'s filings with OTC Markets.com.
Contact:
Labor SMART, Inc.
ir@laborsmart.com