Intercontinental Exchange’s trading platform Bakkt is being integrated into the Starbucks mobile application as a form of payment.
Users of Starbucks’s mobile app have reported being offered the option of paying in “Bakkt Cash,” as the institutional-focused crypto exchange turns its sights to the consumer market. Even prior to launch, Intercontinental Exchange touted Bakkt’s potential as a global payment processor, with Starbucks being listed as a partner for crypto payments.
A Starbucks representative told CoinDesk the program is currently limited to a beta,
We are currently conducting a limited test for our customers, using the Bakkt payment method. Customers can see Bakkt as an option but the test is only available at this time.
Starbucks released a statement on Monday confirming its partnership with Bakkt,
We anticipate that a range of cryptocurrencies will gain traction with customers and, through our work with Bakkt, we will be uniquely positioned to constantly consider and offer customers new and unique ways to pay seamlessly, at Starbuck.
Bakkt President Adam White also published a tweet announcing the exchange’s integration with Starbucks.
We're also reducing payment costs for merchants which improves their bottom line. Open your @Starbucks app to see our first direct integration and select @Bakkt to sign up for our Early Access Program pic.twitter.com/sZ3YlE0Sj9
— Adam White (@WhiteAdamL) March 16, 2020
Featured Image Credit: Photo via Pixabay.com