Starbucks made it clear that it will not accept Bitcoin (BTC) or other cryptocurrency payments, despite misleading reports from mainstream media, a spokesperson for Motherboard said on Friday 3 July.
At the start of Friday, New York Stock Exchange (The New York operator (Intercontinental Exchange) announced the intention to create a new "global platform and ecosystem for digital resources", dubbed "Bakkt", along with a group of large companies including Starbucks, BCG and Microsoft.
announcement, some mainstream media, including Bloomberg and CNBC, have published misleading titles – as the "New Starbucks CNBC partnership with Microsoft allows customers to pay for Frappuccini with bitcoin "- directly implying that the partnership would mean that customers could buy items at Starbucks for crypto.
A spokesperson for the multinational coffee chain made clear in Motherboard's comments that in reality" custom " will not be able to pay for Frappuccino with bitcoins ", but rather the company is part of a new business by creating a platform, Bakkt, to" convert digital assets like Bitco in US dollars, which can be used by Starbucks ", adding:
" At the present time, we announce the launch of Bitcoin's trading and conversion. However, we will continue to talk with customers and regulators as space evolves. "
The official press release of Starbucks elaborated the project, stating that, pending settlement, it will include the physically delivered Bitcoin futures:
" As an initial component of the Bakkt offer, the exchange plan of futures and the clearing plan in the United States of Intercontinental Exchange to launch a Bitcoin contract physically delivered in 1 day together with the physical deposit in November 2018, subject to review and approval of the CFTC. "
May, the New York Times reported on sources suggesting that the ICE was considering the launch of physically delivered BTC futures contracts, a move confirmed by Friday's news.
At the end of July, the Former Wall Street executive has turned the cryptic entrepreneur into encrypted markets "needing a trusted custodian name – a Japanese bank or HSBC or ICE or Goldman Sachs – to allow institutional investors to feel at ease. "