Contrary to reports in mainstream media, Starbucks has clarified that it'll not be accepting direct bitcoin payments at coffee shops.
As reported by CCN on Friday, Starbucks is part of a new cryptocurrency venture with Microsoft and also the intercontinental Exchange (ICE) dubbed “Bakkt”, a regulated Wall Street platform that might basically bring cryptocurrencies like bitcoin into the mainstream.
“We are collaborating to create an open platform that helps unlock the transformative potential of digital assets [cryptocurrencies like bitcoin] across world markets and commerce,” Bakkt chief executive officer Kelly Loeffler told following the announcement.
It’s a groundbreaking development for the cryptocurrency sector, enough for ICE founder and chief executive Jeff Sprecher to claim bitcoin “has the potential to become the first worldwide currency”.
Several mainstream media outlets lapped up the story with the likes of CNBC running with the headline “New Starbucks partnership with Microsoft allows customers to pay money for Frappuccinos with bitcoin”, implying that the Seattle-based coffee retail giant will begin accepting cryptocurrency payments.
However, Starbucks has directly refuted such reports, clarifying that it might not directly accept bitcoins but will facilitate customers swap their cryptocurrency to U.S. dollars before spending it at its outlets.
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