Starbucks chain of coffee shops intends to give its customers the opportunity to pay Bitcoins until the end of 2019. Realization of this idea will be possible thanks to the cooperation with the crypto-platform Bakkt developed by the operator of the New York Stock Exchange, writes The Block referring to sources familiar with the situation.
Initially, Bitcoin can only be paid by Starbucks customers in the United States. To do this, they will be invited to use the software Bakkt, which will instantly convert cryptocurrency into Fiat .
“Although digital assets will not appear in the statements of Starbucks, this is a serious sign of faith in Bakkt and the first step of the coffee house chain in the world of cryptocurrencies , ” writes The Block.
The coffee giant is actively involved in the development of maps and applications that will allow it to become the first outlet on the platform. ”
According to sources, Starbucks, originally announced as a partner of Bakkt, did not make a cash investment in the crypto platform, but their cooperation is based on “mutually beneficial terms”.
As noted by The Block, the owner of Bakkt has agreed to transfer Starbucks a certain share in his enterprise, the amount of which is not disclosed. Sources believe that it turned out to be “disproportionately large,” given the conditions of cooperation.
"The value of cooperation with a brand of this level is great," – said the source.
The Block information is consistent with earlier statements from Starbucks itself. Against the background of the announcement of the development of Bakkt in August last year, the Starbucks press service reported that their customers "will not be able to pay for bitcoin frappuccino," but will be able to "convert digital assets like bitcoin into US dollars and pay them" in coffee shops.
Publication date 05/03/2019
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