Starbucks Starts To Apply Bitcoins As Payments For Coffee
Starbucks, a popular coffee houses network, will start to take bitcoins as payment for coffee as part of a project together with the Intercontinental Exchange (ICE) and Microsoft Corp., CNBC reports.
Starbucks, along with such big companies as BCG, Intercontinental Exchange and Microsoft, is participating in the Bakkt resource development program for operations and storage of cryptos inside the worldwide ecosystem. The launch of this platform is scheduled for this autumn. This ecosystem will carry out transactions and operate with digital assets to both institutional investors and individual users. It will support the work of trading platforms, custody services, applications controlled by federal regulators.
At first the ecosystem listing will include bitcoins, as the most liquid and popular currency, transactions with which will be made in pairs with fiat currency. Bakkt will allow Starbucks customers to pay bitcoins for coffee, while converting to fiat assets will be made automatically and instantly during payment operations.
Maria Smith, Starbucks’ Vice President of partnerships and payments, noted that the company is aimed at applying innovative developments and remains the leader in mobile payments sphere, which includes more than 15 million users in the incentive program.
Introducing @Bakktapp— NYSE (@NYSE) August 3, 2018
Designed to enable consumers and institutions to seamlessly buy, sell, store and spend digital assets. Formed with the purpose of bringing trust, efficiency and commerce to digital assets.
The fact that the huge enterprises like Starbucks, Microsoft or BCG started to adopt bitcoin meant the possibility of significant acceleration of crypto worldwide expansion. It is especially important considering the negative opinion among audience after the crypto market has shown a tendency to rollercoasting, and against some blockchain shortcomings.