& # 39; No Coffee for Bitcoin & # 39 ;, Starbucks clarifies how the media misrepresent its new crypto venture

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. "

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