Starbucks to start Bitcoin and cryptocurrency Payments, Teams up with Microsoft

Starbucks to start Bitcoin and cryptocurrency Payments, Teams up with Microsoft
The Siliconreview
07 August, 2018

Starbucks, the American coffee giant Starbucks has announced that it is partnering with Microsoft to roll out bitcoin payments for its customers. The announcement was made public on Thursday.

The new digital platform will allow customers to carry out transactions with bitcoin and other cryptocurrencies at Starbucks. Customers will be able to convert their cryptocurrencies and bitcoins into U.S. dollars and use them to purchase drinks like Cold Foam Cascara Cold Brew, Matcha Lemonade.

According to a source, Starbucks is planning to launch its own cryptocurrency company called Bakkt by November. It will pave a way for the customers and institutions to trade and spend cryptocurrencies worldwide seamlessly.

By entering into the cryptocurrency bandwagon, the coffee giant will play a key role increasing useful, dependable and regulated applications for consumers, which will help them to convert their digital assets into US dollars for use at the coffee store.

The new launch by Starbucks could help bitcoin breakthrough as a mainstream currency. According to Starbucks, the move by the company will increase the use and demand for crypto and bitcoin transactions, and collaborating with tech giant Microsoft is really positive for their space.

Previously, in 2014 companies like Expedia, Shopify and CheapAir have already started to accept digital assets. So, Starbucks would not be the first one to introduce the digital platform.

“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,” said Maria Smith, VP, partnerships, and payments for Starbucks.