Cryptocurrency
Starbucks teams with Microsoft, ICE on new cryptocurrency that can pay for Frappuccinos via @cnbc
As reported by CNBC, “Starbucks is jumping on the cryptocurrency bandwagon. “The Seattle-based coffee giant is working with Microsoft and a leading global exchange on a new digital payment platform that will allow consumers to use cryptocurrency to buy Frappuccinos. “Starbucks along with Intercontinental Exchange, Microsoft and BCG, among others, is working to launch a new company called Bakkt […]
As reported by CNBC, “Starbucks is jumping on the cryptocurrency bandwagon.
“The Seattle-based coffee giant is working with Microsoft and a leading global exchange on a new digital payment platform that will allow consumers to use cryptocurrency to buy Frappuccinos.
“Starbucks along with Intercontinental Exchange, Microsoft and BCG, among others, is working to launch a new company called Bakkt that will enable consumers and institutions to buy, sell, store and spend cryptocurrencies on the global network by November.
“‘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,’ Maria Smith, vice president of partnerships and payments for Starbucks, said in a statement. ‘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.’
“Cryptocurrency skeptics have challenged its use case as a means of payment because of its volatility. Bitcoin for example, has dropped by roughly 50 percent this year, and its value often changes by hundreds of dollars in a single day.”