Bakkt makes it possible; Starbucks soon accepts bitcoin.
Starbucks received a significant stake in Bakkt in exchange for a pledge to allow bitcoin payments in 2019. This is according to an anonymous source familiar with the deal between Bakkt and his partners. Bakkt is the upcoming cryptocurrency trading platform for the New York Stock Exchange (NYSE).
When it was announced in August 2018 that Starbucks and Microsoft would become major partners of Bakkt, many have already hoped that the cooperation would soon allow you to pay for your coffee with Bitcoin. Shortly after, however, Starbucks denied that bitcoin or other cryptocurrencies are allowed as a means of payment. Now it will soon be possible, thanks to Bakkt.
'It is important to clarify that we are not accepting digital assets at Starbucks. Rather the exchange will convert digital assets like Bitcoin into US dollars, which can be used at Starbucks,” a spokesperson told Vice.
That agreement now appears to be becoming a reality, with Starbucks set to receive a "disproportionately high" equity reward in return for its adoption pledge. The news is a boon for Bakkt's followers. Several delays caused by regulatory bottlenecks have prevented the launch of the Bakkt platform so far. As Bitcoinist reports, Bakkt could come online in the first half of 2019. Originally, the launch was scheduled for late last year, then for the end of January. Bakkt's first product will be physically delivered bitcoin future contracts.