Starbucks along with Intercontinental Exchange (ICE), Microsoft and BCG are teaming up on establishing a new company, Bakkt, which will be focusing on cryptocurrency conversion.
Bitcoin has greatly affected how people transact online and now a lot of corporations, including those who are mentioned above, are trying to integrate the use of electronic money in people’s daily life.
After the news about ICE developing a new Bitcoin trading platform broke, a lot has been anticipating what’s next for the company. On Saturday, August 4, they have confirmed that they are working on establishing a new company, which will help convert bitcoin to fiat money. Along with it, they have named some of the companies that will be working closely with them. Companies such as Microsoft, BCG, and the American coffee company, Starbucks will play a vital role in the said project- Microsoft as the one assigned in providing cloud infrastructure for the service and the coffee giant to become “the flagship retailer” as what others address it.
What started a huge conversation among the mass is the involvement of Starbucks to the project; this has caused people to assume that the company will start accepting cryptocurrency as the mode of payment for their coffees and other products.
Different statements are coming out from different sources; a lot are stating that the coffee brewer is ready to take the risk in starting a new era for their company and others said otherwise- claiming that the company is simply a “flagship retailer” to the group.
The news is considered the biggest one in terms of bitcoin this year- as of the moment. Though there is yet a confirmation as to what Starbucks’ plan is, most of those who heard the news waiting for what the coffee giant has to offer to its customer soon.