Is Starbucks Getting Into Crypto?

Big news came out last week when the Intercontinental Exchange, owner of the New York Stock Exchange, said it would be opening up a digital assets platform by this November.

An interesting partner in the deal is Starbucks. More on that below.

The Intercontinental Exchange’s digital asset platform will be called Bakkt and run on the Microsoft Cloud.

According to the reports, Starbucks will be providing expertise on risk management and consumer experience for the project. Also included is the Boston Consulting Group and Microsoft.

That’s surprising to see Starbucks among the companies helping out.

The report also stated Starbucks will also work to develop "practical, trusted and regulated" applications for consumers to convert digital assets into US dollars for use at the firm's outlets.

Maria Smith, vice president of partnerships and payments for Starbucks, had this to say, "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."

Starbucks has over 15 million rewards members.

That led a lot of people to believe Starbucks would start accepting cryptos for payments.

However, the company did clarify today it wouldn’t be accepting cryptos in the near future, but will "continue to talk with customers and regulators as the space evolves."

Despite the walk back it looks like Starbucks is at least open to accepting cryptos. That would be a huge positive for the space.

---

For more on cryptos follow me @g-dubs and on SteemFollower
Use my referral link to buy Bitcoin, Ethereum, and Litecoin at Coinbase
and trade cryptos on Binance
and delegate SP with MinnowBooster