• Starbucks partners with Bakkt to offer Bitcoin as a payment option.
  • The company gets a share in the platform.

Coffee for Bitcoins is about to become real - again. A famous chain of coffee shops Starbucks will start taking cryptocurrencies by the end of 2019. According to The Block media outlet, the payments will be processed and instantaneously converted into fiat via Bakkt platform.  

At first, the cryptocurrency payment option will be available solely to the US customers, while the company won’t reflect the digital assets in its financial statements.

Now the Seatle-based company is busy developing the payment application. If the project is a success, Starbucks has a chance to become the first merchant based on Bakkt platform.

The Block writes that Starbucks got an inadequately significant share of the project, despite that the company did not invest money into the development. The parties are said to cooperate on mutually beneficial conditions, though no specific numbers have been given.

It is worth noting, that similar information circulated in summer 2018. At that time Starbucks management denied that the company would accept cryptocurrency directly, but would allow users to transfer Bitcoins to fiat via a dedicated app.

Also, Starbucks became one of the original partners that launched Bakkt project in August  2018. Bakkt platform will offer Bitcoin futures for institutional investors. The launch of the platform has been postponed on several occasions. However, there is little doubt that it will go live.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin BitMEX shorts liquidations explode as price climbs to $9,600

Bitcoin price rallied from levels under $9,200 to touch $9,600 barely a day after Goldman Sachs branded it a non-asset class. Investors around the world appear to be joining the market as though to spite one of the largest investment ...

More Bitcoin News

Ripple Price Analysis: XRP/USD charts bearish cross patten

XRP/USD continued its bullish domination as the price went up slightly from $0.1979 to  $0.1982. Presently, the price has peeked above the green Ichimoku cloud, while it has found resistance at ...

More Ripple News

ETH/USD breaks out into the $220 zone, will it be $230 or $210 next?

Ethereum price followed in the footsteps of the largest cryptocurrency by market capitalization, Bitcoin. BTC sprung upwards and for the first time in seven days, stepped above $9,600.

More Ethereum News

Tezos Price Analysis: XTZ breaks out of the triangle pattern on the hourly chart

Tezos has been trading higher on Thursday as most of the crypto majors trade in the black. The price recently converged into a triangle formation making lower high waves and higher low waves.

More Tezos News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC bulls are nowhere to be seen

Bitcoin attempted a recovery towards $10,000 but ended up at $9,100. The first digital asset printed the second red candle on a weekly chart. It is an alarming signal for the long-term bull as BTC may be vulnerable to deeper losses.

Read the weekly forecast

BTC

ETH

XRP