New details about partnership with platform suggest the coffee giant will accept ()-based payments after an equity deal, industry outlet The Block reported on Mar. 4.
Starbucks, which as a founding partner in Bakkt upon its unveiling in August last year, will reportedly support its software to allow U.S. to pay for products.
As The Block reported, no actual will end up processed by the chain, as the crypto will be instantly transferred into fiat.
Still in the final pre-release stages, Bakkt aims to become a major on-ramp for investors looking to gain exposure to . Among its plans are the issuance of physically-delivered contracts, scheduled for later this year depending on regulatory approval.
Starbucks had originally any idea that its input would result in “coffee for .” Now, it appears that the company has secured considerable equity in Bakkt, and in return will accept crypto payment indirectly.
“There’s high value from having a brand at this level,” the publication quoted an unnamed expert close to the deal as commenting. The Block notes that only U.S. will have access to Bakkt’s -USD services at first.
As Cointelegraph previously , Bakkt has faced ongoing delays to its initial launch as executives stressed the need for full regulatory compliance. The Block, citing an unnamed source, notes that Starbucks will wait to activate the crypto-fiat coffee purchase abilities until after Bakkt’s platform has launched and shown a capacity for holding and storing crypto.
The Block’s source reportedly said:
“In many ways, there are limits to what Starbucks can do with partnerships because there are limits to what can expect,”
Grappling with the patchwork U.S. regulatory landscape, some commentators have been about the platform’s ability to increase the public profile of in particular, opening up as a trustworthy mainstream asset.
Published at Tue, 05 Mar 2019 08:03:19 +0000
