Starbucks Partners with Microsoft on a Bitcoin Platform

Many Starbucks patrons may be excited to learn that the coffee powerhouse has partnered up with Microsoft on a new cryptocurrency platform called Bakkt.

Brian Kelly, the CEO and founder of BKCM, an investment firm focused on digital currencies, remarked, “It’s very big news for bitcoin because people say where can you spend it? Now at every single Starbucks.”

“Starbucks is seeing some kind of demand for acceptance of crypto and bitcoin, and to tie up with a huge regulated institution like the ICE is really positive for the space.”

Starbucks and Microsoft will be working together and a leading global exchange on the platform that will enable customers to use bitcoin and other cryptocurrencies while at Starbucks.

Starbucks,Intercontinental Exchange, Microsoft and BCG, and others, are working to launch Bakkt by November.

The platform will be able to convert bitcoin and other cryptocoins into U.S. dollars that can be used to buy items at Starbucks.

“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, stated.

“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.”

Disclaimer: We have no position in Starbucks Corporation (NASDAQ: SBUX) and have not been compensated for this article.