Starbucks will start accepting Bitcoin through the Bakkt

By the end of 2019, the well-known Starbucks chain of coffee houses plans to allow visitors to pay for their orders with cryptocurrency, which through the Bakkt platform will instantly be converted into Fiat. About this writes The Block referring to sources familiar with the situation.

It is assumed that initially the opportunity to pay with Bitcoins will be available only to customers in the United States. At the same time, digital assets will not appear in Starbucks reporting.

At the moment, the company from Seattle is developing an appropriate application. In case of successful completion of the project, Starbucks will become the first outlet on the platform.

According to the newspaper, Bakkt agreed to transfer Starbucks a “disproportionately large” share in its enterprise, although the chain of coffee shops did not invest in the development of the site. As noted, the cooperation is based on mutually beneficial conditions, specific figures, however, were not named.

It is noteworthy that similar information has already appeared in the press in the summer of 2018 . Then the leadership of Starbucks stressed that the coffee shops will not accept cryptocurrency directly, but will allow users to convert Bitcoin to Fiat through a special application.

Recall that in August 2018 Starbucks was one of the original participants in the project to create the Bakkt platform, which, in particular, will offer bitcoin futures to institutional investors. Initially, the launch of the platform was planned for last fall, but was postponed several times. Nevertheless, it can only be considered a matter of time.

In February, the Intercontinental Exchange (ICE) , the parent company of the New York Stock Exchange, announced its intention to invest in the development of Bakkt $ 25 million.

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