• Bakkt has stated that they are currently testing the cryptocurrency payments application.
  • Starbucks owns around 30,000 outlets spread all over the world.

Starbucks announced that they’ll be integrating the upcoming Bakkt cryptocurrency payment service. The Bitcoin futures exchange platform was founded by the New York Stock Exchange Parent company ICE. Bakkt has stated that they are currently testing the cryptocurrency payments application and merchant portal and it will be available by July 2020. Mike Blandina, Bakkt’s chief product officer, this is a step to try and unlock the value of cryptocurrencies. 

Previously, crypto enthusiasts have been uncertain about the mainstream adoption of Bitcoin and other cryptocurrencies. The debate is about digital currencies becoming mainstream once ordinary people start using them in their day to day activities. This may be true as retail outlets are yet to accept Bitcoin and other digital assets on a large scale fully.

With Starbucks introducing the payment service, the scenario may change. Starbucks owns around 30,000 outlets spread all over the world. Starbucks integrating Bitcoin into their payments indirectly will motivate other retailers to go for the process. The futures exchange is utilizing the pain points affecting ordinary users in the motif to promote the adoption of cryptocurrency. As per Bakkt, this will include quick settlement times for the merchants. 

 

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


Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Cash Price Analysis: BCH sits on top of strong support barrier

Bitcoin Cash rose from $240 and rose to $276 between October 21 and October 24. After that, the price dropped to ~$260, found support at the 100-day SMA and has gone up to $266.50, as of writing.

More BitcoinCash News

Tezos Price Prediction: XTZ facing potential bearish breakout towards $1.77

XTZ is currently trading at $2.08 right at the bottom of an ascending parallel channel formed on the daily chart. The digital asset is down 53% since its 2020-high at $4.47, established on August 12.

More Tezos News

Chainlink Price Prediction: The last time this indicator turned bullish LINK skyrocketed 300%

LINK established a bottom at $7.31 on September 23 and has rebounded strongly, reaching a peak of $12.97 just three days ago on October 24. The digital asset continues trading inside an ascending parallel channel on the daily chart, currently at 12.35.

More Chainlink News

MakerDAO Price Prediction: MKR aims at a potential price target of $700

MKR has been trading inside an ascending triangle for around 20 days, currently at $589, with a precise resistance level located at $604. The price got rejected several times from this upper boundary, but the support trendline below was held. 

More MakerDAO News

BEST CRYPTO BROKERS/EXCHANGES




Bitcoin Weekly Forecast: Bitcoin goes up as some of the world's largest currencies go down

While investors are waiting for BTC to retest all-time highs and shoot to the moon, it is already there. In some countries, the pioneer digital asset surpassed the peak of 2017 and hit new historic highs in local currencies.

Read the weekly forecast

BTC

ETH

XRP