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A while ago, Starbucks announced that it was entering into a partnership with the United States cryptocurrency-based platform, Bakkt. Two days ago, new details about the partnership revealed that Starbucks, the United States coffee giant, may start accepting Bitcoin Bakkt payments because of the equity deal. The news was initially reported by The Block, a cryptocurrency news outlet.
Bitcoin Bakkt Payments On Starbucks
In August last year, Starbucks became one of the founding partners of Bakkt. Now, the coffee giant will install the Bitcoin Bakkt software that will allow customers make payments for their products in Bitcoin. The report from The Block stated that even if the payments will be made in cryptocurrencies, no Bitcoin will be left on the chain. They will be converted into fiat instantly.
Bitcoin (BTC) Price Today – BTC / USD
The entire cryptocurrency industry has been waiting for the release of Bakkt which is currently in its final stages. The platform is expected to support the massive adoption of cryptocurrencies around the globe. The platform will most likely be launched this year. Among other things, it is going to provide issuance for physically-delivered Bitcoin futures contracts. Right now, the main thing that is holding the platform back is regulatory approval from the CFTC. As soon as the United States Commodities Futures Trading Commission gives its approval, the platform will go live. This is expected to happen later this year.