New leaked information shows that Starbucks has received a “significant stake” in the Bakkt crypto platform in exchange for Starbucks installing Bakkt’s payment software in its stores, allowing customers to pay with Bitcoin & Crypto.
In August last year, Starbucks surprisingly announced that they will work with the Bitcoin futures platform Bakkt. What was initially interpreted as accepting Starbucks payments in Bitcoin, was later clarified as a partnership in which Bakkt “only takes over the trading and conversion of Bitcoin in Fiat currencies”, with which customers can pay for articles at Starbucks. Instead of paying directly with Bitcoin for a coffee at Starbucks, there is still a conversion of Bitcoin (through the Bakkt software) into Fiat.
Still, many people were curious as to why the partnership actually came about and what Starbucks would expect to associate with Bitcoin. A recent report shows that Starbucks actually had something to “acquire”, namely a “significant stake” in Bakkt. The coffee giant…