What Does Coffee, Blockchain, Bitcoin, Bakkt, ICE, Starbucks and Crypto Payments All Have in Common?
Cryptocurrency enthusiasts were excited when it was announced that Microsoft and Starbucks publicly supported Bakkt. It was a major push because those two companies are some of the biggest names in the world of business.
Regardless, more exciting news seems to be springing up about Bakkt’s collaborations. Officially, Starbucks now formally has some Bakkt equity and the giant coffee company has finalised plans to let customers purchase coffee with Bitcoin.
Even though the partnership is thrilling for most, it has been revealed that Starbucks will not directly receive crypto as the plan would ensure that the Bitcoin fee would be immediately changed into fiat currency. Explaining this, an anonymous quote from a privy party said that:
“In many ways, there are limits to what Starbucks can do with partnerships because there are limits to what customers can expect.”
Regardless of the chain of payment, the announcement still carries a lot of weight for the cryptocurrency community especially regarding its adoption by the entire business world.
Commencement of Starbucks’ New Payment Solution
It has also been revealed that Starbucks will not only allow some time for Bakkt to officially kick off, but also wait till the firm has achieved a considerable level of steadiness before rolling out this service to the general public.
The service will begin with only customers in the United States before it will be spread to all customers in all the countries where Starbucks operates.
About Bakkt and Its Launch
Many people expect that Bakkt’s launch will have a great influence on the state of the entire cryptocurrency market. Even though the firm has experienced more than a few bottlenecks, it is expected that Bakkt will officially kick off sometime later this year. Approval is also being sought for Bakkt for specifics of its Bitcoin futures to be revealed this year also.
The launch of the firm is also expected to directly increase investment on an institutional level which it is hoped, would bring growth, development and some sense of stability, to the general cryptocurrency market.