Starbucks Denies News About Bitcoin Payments For Coffee
The spokesman of the popular coffeehouse network Starbucks denied that the company will accept payments for coffee in bitcoins. Instead, there will be a conversion to the fiat currencies inside the exchange right before payment, Motherboard reports.
Buyers will not be able to pay for their frappuccino with bitcoins, Starbucks spokesman said, refuting the CNBC headline. According to him, the Bakkt crypto exchange, in the launch of which the company participates together with Microsoft and BGG, will enable coffee-lovers to exchange bitcoin into fiat money, and only then they will be able to pay for their coffee cup.
The spokesman said that the company currently develops solutions for bitcoin trade and exchange. He specified that the further development of innovations will be discussed with the customers and regulators. Starbucks specialists are involved in the development of programs for the exchange of bitcoins into fiat currencies.
As previously reported, some media published the information on a common project of several corporations, including Intercontinental Exchange, BCG, Microsoft, and Starbucks, which were working on the launch of Bakkt resource for operations with cryptocurrencies. Journalists emphasized that coffee-lovers will have an opportunity to spend their bitcoins in Starbucks coffee houses.