Starbucks will accept Bitcoin in 18 months

In August 2018, Starbucks became a founding partner of Bakkt, a US cryptocurrency platform. After this first step in the world of crypto, The Block claims that the American coffee giant should accept payments in Bitcoin in 18 months.

The announcement follows an agreement between Starbucks and Bakkt in which Starbucks would have received a significant stake in Bakkt in exchange for a commitment to allow bitcoin payments in its stores.

On the logistics side, these transactions will be done through Bakkt's future payment application, which will instantly convert consumer cryptos into dollars. This will prevent Starbucks from having to store and manage cryptoactives (which will remain in Bakkt's domain).

At first only American shops would be affected by cryptocurrency payments.

Source: The Block