Starbucks Will Accept Bitcoin Payments in 2019 Thanks to Bakkt

The much anticipated Bakkt cryptocurrency exchange has struck deal with Starbucks which will have the coffee kingpin accepting Bitcoin for payments in 2019.

As Zycrypto reports:

America’s leading coffee company Starbucks acquired significantly large equity from the long-awaited Bitcoin trading platform Bakkt in exchange for use of Bitcoin by customers in their stores. Though not technically an investor in the Bakkt equity, Starbucks accepted the equity and has agreed to become Bakkt’s first merchant.

This is coming even prior to the official launch of the Bakkt trading platform which the CEO of Intercontinental Exchange (ICE) the owner of Bakkt recently said will be launching later this year.

The use of Bitcoin to pay for coffee in-store will be huge progress for the adoption of Bitcoin for everyday transactions as Starbucks’ thousands, probably millions of customers around the world will be given the freedom to use it for payment. This is also a potentially huge market expansion strategy for Starbucks as cryptocurrency enthusiasts may start patronizing the stores when the doors open for Bitcoin.

This is surely music to any crypto enthusiast's ears as the bitcoin brand will now be tied to a highly popular consumer chain and could pave the way for more big business to accept the worlds top cryptocurrency.

American Starbucks coffee drinkers are going to be the first to pay in bitcoin with the option to spread outside the U.S. at a later date.

Bakkt is being chalked up as the next big step for institutional investors jumping into the cryptocurrency market. After having delayed its official launch multiple times already, the exchange is looking to go live at some point later in 2019.

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