RATE Group | Starbucks tests mobile payments with Bakkt cryptocurrency
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Starbucks tests mobile payments with Bakkt cryptocurrency

18 Mar Starbucks tests mobile payments with Bakkt cryptocurrency

Posted at 15:26h in Cryptocurrency News by

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Brief:

  • Starbucks is testing a way to let users of its mobile app pay for coffee and food with the cryptocurrency Bakkt Cash, Adam White, president of Bakkt, announced in a tweet. Bakkt, pronounced “backed,” is a Bitcoin futures exchange overseen by Intercontinential Exchange (ICE), which also owns the New York Stock Exchange (NYSE).
  • Starbucks is currently conducting a limited test of Bakkt as a payment method, and is a launch partner for Bakkt’s dollar-denominated digital wallet, Coindesk reported. Starbucks also allows people to pay with Apple Pay, Chase Pay, Google Pay, PayPal and Visa Checkout, among other methods, per its website.
  • Bakkt this week announced it had raised $300 million in funding from investors that include Microsoft’s M12, PayU, Boston Consulting Group, Goldfinch Partners, CMT Digital and Pantera Capital. Bakkt plans to launch its mobile payments app this summer, CEO Mike Blandina said in a blog post.

Insight:

Starbucks’ test of Bakkt…

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