People might think it’s crazy to order & pay for coffee with Bitcoin, but Starbucks Corp. may be planning to change the way you think.
The coffee giant is partnering with one of the world’s biggest exchange operators, Intercontinental Exchange Inc., which just created a venture called Bakkt designed to bring digital currencies closer to global commerce.
Even with Bitcoin’s astronomical surge last year, it’s still barely used to buy and sell actual goods in most countries. Many startups have sought to take cryptocurrencies mainstream by developing exchanges or payment gateways for merchants, but few have had success connecting all of the necessary players. ICE wants to help change that.
“Bakkt is designed to serve as a scalable on-ramp for institutional, merchant and consumer participation in digital assets by promoting greater efficiency, security and utility,” said Kelly Loeffler, the chief executive officer of Bakkt who was until recently head of communications at ICE. “We are collaborating to build an open platform that helps unlock the transformative potential of digital assets across global markets and commerce.”
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