From the new report, it seems that there is substantial equity held by Starbucks – the biggest coffee and snack provider globally – in the forthcoming cryptocurrency platform Bakkt. The company has earned its shares as part of a jointly constructive agreement. Starbucks’ partnership with Bakkt was initially revealed in August 2018. It is aimed at enabling bitcoin payments.
The giant now plans to install Bakkt’s payment software in all its stores such that clients can make payments using cryptocurrencies such as Bitcoin (BTC), Ether (ETH), Ripple (XRP) and others. The system will be changing crypto to fiat such that cryptocurrencies are kept off of the company’s account.
Bakkt is also considering to provide cryptocurrency-related services in 2019. The Intercontinental Exchange owned firm is soon establishing physically-backed BTC futures undecided approval from the United States CFTC.
In August 2018, Maria Smith, Vice president of Partnerships and Payments Starbucks, stressed the company’s strategies with Bakkt, he said:
“As the flagship retailer, Starbucks will play a pivotal role in developing practical, trusted and regulated applications for consumers to convert their digital assets into US dollars for use at Starbucks.”
Read the details in the article of Coinidol dot com, the world blockchain news outlet:
https://coinidol.com/starbucks-bitcoin-payments/