Starbucks to Accept Cryptocurrency

The coffeehouse chain is working on an integrated platform that would allow customers to pay for coffee with Bitcoin and other cryptocurrency.

August 08, 2018

SEATTLE – Soon, you will be able to buy a Frappuccino with Bitcoin. Starbucks Corp. has joined with International Exchange and Microsoft to create an integrated platform that would let customers buy coffee with cryptocurrency, Chain Store Age reports.

The worldwide network will use Microsoft’s cloud solutions along with the International Exchange’s new company Bakkt to allow consumers and financial firms to sell, buy, spend and store cryptocurrencies. Starbucks customers then can use the platform to convert Bitcoin into U.S. dollars before digitally paying for their coffee.

“Starbucks will play a pivotal role in developing practical, trusted and regulated applications for consumers to convert their digital assets into U.S. dollars for use at Starbucks,” said Maria Smith, vice president of partnerships and payments for the coffeehouse chain.

Starbucks didn’t announce a timeline for accepting cryptocurrency, but International Exchange said more details would be released soon. MasterCard recently announced it was considering a Bitcoin credit card. Other retailers have dabbled in Bitcoin too, including Overstock, which has accepted the cryptocurrency since 2014, and added a Bitcoin ATM in 2015 at its headquarters in Salt Lake City.

Advertisement
Advertisement
Advertisement