Starbucks to Start Accepting Bitcoin in 2019, Courtesy Bakkt

Global coffee giant Starbucks might soon start accepting Bitcoin payments, courtesy an equity deal with Bakkt. According to news outlet The Block, Starbucks has received sizeable equity in Bakkt, despite not being a cash investor on the trading platform. It is learned that Starbucks will allow visitors to buy coffee with Bitcoin using Bakkt’s software, but the crypto will be transferred to fiat instantly. On their end, Starbucks will not see digital assets on their books.

Last year, when Starbucks announced its partnership with Bakkt, there was a lot of speculation about the coffee chain accepting cryptocurrencies for payments. While there were a lot of conflicting reports then, the latest report confirms that the coffee chain will accept cryptocurrency payments, albeit indirectly.

The use of Bitcoin for payments will likely have a huge impact on the cryptocurrency space, as it is the first big business to start accepting Bitcoin for everyday transactions. This will also earn it some good credibility with the fast-growing cryptocurrency community. While only customers in the US can benefit from the Starbucks-Bakkt partnership initially, it may eventually roll out to all other countries where Starbucks has a presence. It is likely that we will see Starbucks accepting payments in Bitcoin in 2019 itself.

Interestingly though, Bakkt’s own launch is a little bit of a mystery. The cryptocurrency community has been eagerly awaiting the launch of Bakkt, but it has been delayed several times due to regulatory uncertainty. The launch date is anybody’s guess! However, experts remain confident that Bakkt will play an integral role in making cryptocurrencies more accessible to institutional investors and fast-tracking mainstream adoption.

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