There is a new partnership on the horizon, it seems. This time it involves both coffee and cryptocurrencies. Starbucks is reportedly partnering with the American cryptocurrency platform Bakkt. The coffee giant may start accepting Bitcoin for coffee right after a sizeable equity deal between Bakkt and Starbucks.
Starbucks is a founding partner of the crypto platform since August 2018. Now, it will support the Bakkt software to let US clients purchase their products with cryptocurrencies. However, cryptocurrencies will not be actually processed by the US coffee giant, as all digital coins will be “transformed” in fiat money.
The idea is that Starbucks, which has a considerable equity portion in Bakkt, will accept cryptocurrency payments in an indirect way, benefitting from a large pool of users and getting fiat payments.
According to press, Starbucks’ US customers will be able to use the BTC-USD pair initially for purchases at the coffee chain.
Starbucks was previously rumoured to allow Bitcoin for coffee purchases. While Starbucks denied the rumours, it seems the company is making strategic steps towards growing its customer base using Bakkt in this case for “a different type” of payment.