Dennis Rodman's proposed trip to Singapore for the Trump-Kim summit may be sponsored by a cryptocurrency for marijuana

  • Potcoin, a cryptocurrency for marijuana, may be sponsoring Dennis Rodman's proposed trip to Singapore for the Trump-Kim summit.
  • It's a marketing opportunity for the coin, and yet another unexpected wrinkle in the historic nuclear talks.
  • "We at PotCoin definitely believe that Dennis Rodman deserves the Nobel Peace Prize," a spokesman for the cryptocurrency said. 

A cryptocurrency for marijuana may be sponsoring Dennis Rodman's proposed trip to Singapore for the historic talks between North Korea and the US.

The currency, called Potcoin, previously sponsored Rodman's June 2017 trip to North Korea in an elaborate marketing ploy. The former NBA-player arrived in Pyongyang's international airport decked out in Potcoin apparel — including a T-shirt, hat, and sunglasses — and flanked by Potcoin's executives.

The stunt paid off: Potcoin's market cap soared 84%, though it plummeted a day later, according to coinmarketcap.com. 

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Dennis Rodman returns to North Korea
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Dennis Rodman returns to North Korea
Former NBA basketball player Dennis Rodman speaks to the media as he leaves for North Korea's Pyongyang, at Beijing Capital International Airport, China, June 13, 2017. REUTERS/Jason Lee
Former NBA basketball player Dennis Rodman arrives at Beijing Capital International Airport as he leaves for North Korea's Pyongyang, in Beijing, China, June 13, 2017. REUTERS/Jason Lee
Former NBA basketball player Dennis Rodman arrives at Beijing Capital International Airport as he leaves for North Korea's Pyongyang, in Beijing, China, June 13, 2017. REUTERS/Jason Lee
Former NBA basketball player Dennis Rodman arrives at Beijing Capital International Airport as he leaves for North Korea's Pyongyang, in Beijing, China, June 13, 2017. REUTERS/Jason Lee
Former NBA basketball player Dennis Rodman arrives at Beijing Capital International Airport as he leaves for North Korea's Pyongyang, in Beijing, China, June 13, 2017. REUTERS/Jason Lee
Former NBA basketball player Dennis Rodman arrives at Beijing Capital International Airport as he leaves for North Korea's Pyongyang, in Beijing, China, June 13, 2017. REUTERS/Jason Lee
Former U.S. basketball star Dennis Rodman (C) arrives at Pyongyang's international airport, North Korea in this photo taken by Kyodo on June on June 13, 2017. Mandatory credit Kyodo/via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. MANDATORY CREDIT. JAPAN OUT. NO COMMERCIAL OR EDITORIAL SALES IN JAPAN.
Former U.S. basketball star Dennis Rodman (C) arrives at Pyongyang's international airport, North Korea in this photo taken by Kyodo on June on June 13, 2017. Mandatory credit Kyodo/via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. MANDATORY CREDIT. JAPAN OUT. NO COMMERCIAL OR EDITORIAL SALES IN JAPAN. THIS PICTURE WAS PROCESSED BY REUTERS TO ENHANCE QUALITY. AN UNPROCESSED VERSION HAS BEEN PROVIDED SEPARATELY.
Former U.S. basketball star Dennis Rodman (C) arrives at Pyongyang's international airport, North Korea in this photo taken by Kyodo on June on June 13, 2017. Mandatory credit Kyodo/via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. EDITORIAL USE ONLY. MANDATORY CREDIT. JAPAN OUT. NO COMMERCIAL OR EDITORIAL SALES IN JAPAN.
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Rodman's trip to Singapore for the June 12 summit is far from certain. But a PotCoin spokesman confirmed to The Washington Post on Thursday that it's in advanced discussions with Rodman to bankroll the trip if it happens.

It's another wrinkle in the high-stakes nuclear diplomacy between President Donald Trump, and North Korean leader Kim Jong Un. 

"The PotCoin team as a community has been incredibly supportive of Rodman’s peace mission from the beginning," Shawn Perez, the spokesman, told The Post.

Potcoin was founded in Canada in 2014 as a digital cryptocurrency  designed to remove the need for cash transactions between marijuana consumers and dispensaries. Since marijuana is illegal under federal law, the majority of banks won't take cash or open lines of credit for marijuana businesses — which some crypto-boosters point to as an opening for digital currencies.

However, cannabis industry CEOs told Business Insider in December that cryptocurrencies aren't a panacea for the nascent industry, pointing out that their use can "draw unwanted attention" from regulators to otherwise law-abiding dispensaries. 

That isn't stopping Potcoin. 

"We at PotCoin definitely believe that Dennis Rodman deserves the Nobel Peace Prize jointly with President Trump and the Marshal Kim Jong Un," Perez told The Post.

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North Korea official meets Trump in rare visit
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North Korea official meets Trump in rare visit
US President Donald Trump shakes hands with North Korean Kim Yong Chol (L) outside the White House on June 1, 2018 in Washington,DC after a meeting, as US Secretary of State Mike Pompeo(C) looks on. - North Korean dictator Kim Jong Un's right-hand man met with US President Donald Trump at the White House on Friday to deliver a letter from his leader that could pave the way to a historic nuclear summit. Kim Yong Chol, vice chairman of North Korea's ruling party executive and a veteran regime insider, arrived for his Oval Office encounter accompanied by the senior US officials who have overseen an extraordinary diplomatic opening. (Photo by Saul LOEB / AFP) (Photo credit should read SAUL LOEB/AFP/Getty Images)
US President Donald Trump shakes hands with North Korean Kim Yong Chol (L) outside the White House on June 1, 2018 in Washington,DC after a meeting, as US Secretary of State Mike Pompeo(C) looks on. - North Korean dictator Kim Jong Un's right-hand man met with US President Donald Trump at the White House on Friday to deliver a letter from his leader that could pave the way to a historic nuclear summit. Kim Yong Chol, vice chairman of North Korea's ruling party executive and a veteran regime insider, arrived for his Oval Office encounter accompanied by the senior US officials who have overseen an extraordinary diplomatic opening. (Photo by Saul LOEB / AFP) (Photo credit should read SAUL LOEB/AFP/Getty Images)
US President Donald Trump looks at North Korean Kim Yong Chol (L) outside the White House on June 1, 2018 in Washington,DC after a meeting, as US Secretary of State Mike Pompeo(C) looks on. - North Korean dictator Kim Jong Un's right-hand man met with US President Donald Trump at the White House on Friday to deliver a letter from his leader that could pave the way to a historic nuclear summit. Kim Yong Chol, vice chairman of North Korea's ruling party executive and a veteran regime insider, arrived for his Oval Office encounter accompanied by the senior US officials who have overseen an extraordinary diplomatic opening. (Photo by Saul LOEB / AFP) (Photo credit should read SAUL LOEB/AFP/Getty Images)
US President Donald Trump walks with North Korean Kim Yong Chol (L) outside the White House on June 1, 2018 in Washington,DC after a meeting, as US Secretary of State Mike Pompeo(R) looks on. - North Korean dictator Kim Jong Un's right-hand man met with US President Donald Trump at the White House on Friday to deliver a letter from his leader that could pave the way to a historic nuclear summit. Kim Yong Chol, vice chairman of North Korea's ruling party executive and a veteran regime insider, arrived for his Oval Office encounter accompanied by the senior US officials who have overseen an extraordinary diplomatic opening. (Photo by Saul LOEB / AFP) (Photo credit should read SAUL LOEB/AFP/Getty Images)
Kim Yong Chol, vice chairman of North Korea's ruling Worker's Party Central Committee, left, and John Kelly, White House chief of staff, walk through the Colonnade of the White House toward the Oval Office in Washington, D.C., U.S., on Friday, June 1, 2018. A top envoy from North Korean leader Kim Jong Un arrived at the White House today to meet with President Donald Trump, the first visit by a key official from the isolated country to Washington in at least 18 years. Photographer: Olivier Douliery/Pool via Bloomberg
WASHINGTON, DC - JUNE 01: US President Donald Trump (2-R) walks with Kim Yong Chol (2-L), former North Korean military intelligence chief and one of leader Kim Jong Un's closest aides, as Secretary of State Mike Pompeo (R) looks on outside the Oval Office of the White House on June 1, 2018 in Washington, DC. Both Trump and Kim Yong Chol are trying to salvage a recently canceled historic summit between US President Donald Trump and North Korean leader Kim Jong-un scheduled for June 12. (Photo by Olivier Douliery-Pool/Getty Images)
WASHINGTON, DC - JUNE 01: US President Donald Trump (3-L) stands next to Kim Yong Chol (2-L) , former North Korean military intelligence chief and one of leader Kim Jong Un's closest aides, as Secretary of State Mike Pompeo (R) looks on outside the Oval Office of the White House on June 1, 2018 in Washington, DC. Both Trump and Kim Yong Chol are trying to salvage a recently canceled historic summit between US President Donald Trump and North Korean leader Kim Jong-un scheduled for June 12. (Photo by Olivier Douliery-Pool/Getty Images)
WASHINGTON, DC - JUNE 01: US President Donald Trump speaks with Kim Yong Chol (L), former North Korean military intelligence chief and one of leader Kim Jong Un's closest aides, as Secretary of State Mike Pompeo looks on outside the Oval Office of the White House on June 1, 2018 in Washington, DC. Both Trump and Kim Yong Chol are trying to salvage a recently canceled historic summit between US President Donald Trump and North Korean leader Kim Jong-un scheduled for June 12. (Photo by Olivier Douliery-Pool/Getty Images)
US President Donald Trump shakes hands with North Korean Kim Yong Chol (L) on the South Lawn of the White House on June 1, 2018 in Washington, DC, after a meeting, as US Secretary of State Mike Pompeo (C) looks on. - US President Donald Trump said Friday his summit with North Korea's leader Kim Jong Un is back on for next month, after extraordinary Oval Office talks with a top envoy from Pyongyang. Trump emerged after a more than hour-long Oval Office meeting with Kim Yong Chol -- a general facing US sanctions who is Kim's right-hand man -- saying that the summit will go ahead in Singapore on June 12 as originally planned. (Photo by SAUL LOEB / AFP) (Photo credit should read SAUL LOEB/AFP/Getty Images)
WASHINGTON, DC - JUNE 01: US President Donald Trump walks out of the Oval Office with Kim Yong Chol, former North Korean military intelligence chief and one of leader Kim Jong Un's closest aides, on June 1, 2018 in Washington, DC. Both Trump and Kim Yong Chol are trying to salvage a recently canceled historic summit between US President Donald Trump and North Korean leader Kim Jong-un scheduled for June 12. (Photo by Olivier Douliery-Pool/Getty Images)
WASHINGTON, DC - JUNE 01: US President Donald Trump stands with Kim Yong Chol, former North Korean military intelligence chief and one of leader Kim Jong Un's closest aides, on the South Lawn of the White House on June 1, 2018 in Washington, DC. Both Trump and Kim Yong Chol are trying to salvage a recently canceled historic summit between US President Donald Trump and North Korean leader Kim Jong-un scheduled for June 12. (Photo by Olivier Douliery-Pool/Getty Images)
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