Starbucks and Bakkt Announces New Payment Integration with Crypto Money
After the banning of cafes and many public places due to the coronavirus epidemic, Starbucks has announced its cryptocurrency payment integration via mobile app.
The Starbucks mobile app will allow its users to pay for their beverages with “Bakkt Cash” soon. ICE (Intercontinental Exchange), one of the parent companies of Bitcoin derivative providers, stated that the world famous coffee brand has been planning to find solutions for crypto payment applications since August 2018.
Bakkt President Adam White announced the payment integration with Starbucks on Twitter:
Bakkt, seen as one of the important initiatives in the crypto money world, has recently invested $300 million to develop digital asset-oriented services.
This investment has suffered a major decline in crypto exchanges due to restrictions imposed after the coronavirus epidemic was perceived to spread rapidly. Intercontinental Exchange announced that it plans to increase its capital to get innovative software solutions to improve Bakkt application.
Still in Beta
Although Bakkt Cash is a feature that users can actively use as a mobile application, according to the statement, customers are required to register with the platform’s Early Access Program in order to use the new payment integration.
Bakkt announced that the crypto payment option is currently only available in beta.
“We are currently running a limited test for our customers using the Bakkt payment method. Customers will be able to see Bakkt among the options, but it is currently on test phase. ”
Starbucks stopped serving customers in-store due to the Coronavirus epidemic. It is envisaged that only takeaway service will be provided until it is safer.
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