Coffee chain joins forces with Microsoft and other groups to create platform converting cryptocurrency to dollars Starbucks and Microsoft are working on a strategy that will be able to let customers buy Starbucks items using cryptocurrency. ICE (Intercontinental Exchange) and BCG are also involved with plans to roll out a company named Bakkt that will encourage cryptocurrency users to utilise bitcoin for purchasing menu items from the popular coffee chain.
The platform essentially converts bitcoins into US currency. While companies such as Overstock.com, Expedia, CheapAir and Shopify have already been using cryptocurrency as form of payment, Starbucks wants to join in on the trend to make things easier for some customers who are fans of the currency system.
Maria Smith, vice-president of partnerships and payments at Starbucks, said, “As the flagship retailer, Starbucks will play a pivotal role in developing practical, trusted and regulated applications for consumers to convert their digital assets into US dollars for use at Starbucks.” Smith adds, “As a leader in Mobile Pay to our more than 15 million Starbucks Rewards members, Starbucks is committed to innovation for expanding payment options for our customers.” Crypto news has been rocky as of late, but as many predict its inevitable stabilisation, it seems like more users would be interested in using bitcoin as a more widely-used form of purchase. Recently, Starbucks opened stores catering to deaf customers.
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