The famous coffee chain Starbucks has partnered with Microsoft Corporation and the largest stock exchange in order to give its customers the opportunity to pay with bitcoin and other cryptocurrencies.
Starbucks together with Microsoft, network exchanges, Intercontinental Exchange and the Boston Consulting Group are working now on the launch of a new platform called Bakkt, which will allow consumers and institutional investors to buy, sell and store crypto-currencies in the global network. This platform will convert the bitcoins and other cryptocurrencies in American dollars for payment of goods and services in coffee houses Starbucks.
According to Mary Smith, Vice President for partnership and Starbucks payments, the company will play a major role in the development of practical, reliable and controlled application through which consumers will be able to convert digital assets into dollars. Thus, Starbucks not only remain on leading positions in the Mobile Pay system, covering more than 15 million members rewards, but also will attract many new customers.
If Starbucks is really going to take Bitcoin as payment, this will help bitcoin to go to traditional markets and to stabilize its own rate, which falls from the end of 2017. As stated by the chief Executive officer of the investment company BKCM Brian Kelly, this solution opens great prospects for bitcoin. "If people today can't spend bitcoin as easily as ordinary money, it will be possible to do at any Starbucks in the near future. Moreover, the cooperation of the company with such a huge regulated by Intercontinental Exchange are extremely positive news for the entire cryptocurrency space," said Kelly.
It is noteworthy that Starbucks is not the first company that decided to accept Bitcoin as payment. For example, Microsoft, online retailer Overstock and selling tickets Cheapair accept bitcoin for several years.