Bitcoin allowed at Starbucks’ in 2020

Published : 05/03/2019
Categories : News

Bitcoin allowed at Starbucks’ in 2020

In association with Microsoft and other leading stakeholders, Starbucks is developing the Bakkt solution. Announced in August 2018, it aims to launch a new technology directed at democratising the use of cryptocurrencies as a mean of exchange and payment in many everyday situations… like buying a coffee to take away!

About Bakkt

Several major global groups have teamed up to propose the creation of a platform allowing interested customers to obtain more easily digital currency, and in particular bitcoin, to spend directly with affiliated companies.

It is therefore planned, in the long term, to develop a complete payment infrastructure enabling the consumer to use instantaneously cryptoassets for its purchases, through a conversion into a fiduciary currency that will remain transparent to him.

What is Starbucks' role?

The Starbucks company received a significant equity stake in the Bakkt project in return for its future commitment to allow bitcoins payments at its physical stores.

The involvement of the coffee brand is therefore crucial, even if the appearance of new investors is very likely. Stabilisation of operations is also expected before the cryptocurrency payment option can be offered on a permanent basis.

Furthermore, such a service will initially only be available in the United States on an experimental basis, before been possible extended to other countries in which the Starbucks chain is present.

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