Starbucks and Bakkt implement support for Bitcoin payments in 2019
04.03.19
Starbucks chain of coffee shops intends to give its customers the opportunity to pay Bitcoins by the end of the year. The idea will be possible thanks to the cooperation with the crypto-platform Bakkt developed by the operator of the New York Stock Exchange. So states the publication of The Block, citing 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. Digital assets will not appear in the statements of Starbucks, but this is a serious sign of faith in Bakkt and the first step of the coffee house chain in the world of cryptocurrencies. 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. So say the authors of The Block.

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”.

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 quote: “they will not be able to pay for bitcoin frappuccino, but they will be able to convert digital assets like bitcoin into US dollars and pay for them in coffee houses”.