Starbucks teams up with Microsoft and ICE to allow consumers buy frappuccinos for crypto

Verified
4 months ago
0

According to Bloomberg, Starbucks SBUX is teaming up with Microsoft and ICE on a new digital platform that will allow consumers to pay for frappuccinos with crypto.

The beverage retailer along with Intercontinental Exchange ICE , Microsoft MSFT and BCG plans to create a new platform called Bakkt that will allow consumers to purchase, hold and sell cryptos on a global network by November 2018. The companies didn’t provide a timetable.

Starbucks is not the first retailer to accept crypto. Overstock.com started accepting bitcoin in 2014. Expedia, Shopify and CheapAir have also announced that they accept cryptocurrencies as a means of payment.