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CNBC reports that Starbucks “ is working with Microsoft and a leading global exchange on a new digital platform that will allow consumers to use bitcoin and other cryptocurrencies” in its stores.

The partners are said to be working together to launch a new company called Bakkt “that will enable consumers and institutions to buy, sell, store and spend cryptocurrencies on the global network by November. The platform will convert bitcoin and other cryptocoins into U.S. dollars that can be used to buy a Cold Foam Cascara Cold Brew, Matcha Lemonade or anything else at Starbucks.”

But … not just yet.

Gizmodo quotes a Starbucks spokesperson as saying that “it is important to clarify that we are not accepting digital assets at Starbucks. Rather the exchange will convert digital assets like Bitcoin into US dollars, which can be used at Starbucks. At the current time, we are announcing the launch of trading and conversion of Bitcoin. However, we will continue to talk with customers and regulators as the space evolves.

“Customers will not be able to pay for Frappuccinos with bitcoin,” the spokesperson wrote.

The CNBC story notes that “cryptocurrency skeptics have challenged its use for payments because of its volatility. Bitcoin for example, has dropped by roughly 50 percent this year, and its value often changes by hundreds of dollars in a single day. But with Starbucks taking cryptocurrency seriously, it could help bitcoin break through as a mainstream currency. It could also be bullish for prices, which have struggled to find footing since the end of 2017.”
KC's View:
Probably smart to that the whole cryptocurrency thing seriously … it’ll give companies that do an advantage when the time is right.