Starbucks Teams Up with Bakkt for a Digital Coffee Revolution

Estimated read time 2 min read

Cuppa Joe Meets Crypto: A New Payment Method

In a groundbreaking move, Starbucks is brewing up something special for its customers—crypto payments. Thanks to a collaboration with Bakkt, the renowned digital asset platform, ordering that double espresso with an extra shot will soon be as easy as tapping your smartphone. Imagine grabbing your daily caffeine fix while flexing your crypto muscles!

From Blockchain to Barista: The Partnership

Back in August 2018, Intercontinental Exchange (ICE), Bakkt’s parent company, hinted at retail applications for cryptocurrency, and it seems they’ve finally made great strides. Bakkt President Adam White took to Twitter to spill the beans on the seamless integration with Starbucks, stating, “We’re also reducing payment costs for merchants which improves their bottom line.” Of course, who wouldn’t want a few extra bucks left for that extra pastry in the bakery case?

Recent Developments: Funding and Features

Recently, Bakkt raised a whopping $300 million in funding, which they plan to utilize for expanding their digital asset services. It’s no secret that the crypto world is a rollercoaster ride, especially amidst current market tumult due to the pandemic. Using some of that cash to enhance the Bakkt app is a smart move as every dollar counts—just like that espresso shot that can kick-start your day!

Limited Tests and Early Access

As sweet as it sounds, don’t go getting your caffeine-dreams ahead of yourself. The Bakkt Cash payment option is currently in a limited beta testing phase. Customers eager to be among the first to pay with crypto at Starbucks will need to sign up for the platform’s Early Access Program. You might not be able to swipe some Bakkt cash just yet, but hang tight—good things are brewing.

The COVID Effect: To-Go Orders Only

Of course, let’s not forget the elephant in the room. With the ongoing pandemic, Starbucks has closed all its locations for in-store dining, allowing only to-go orders. So, while your Bakkt Cash may be itching to make its debut, you’ll need to maintain social distancing as you sip your latte on the go. Just don’t spill it on your phone while you marvel at how far coffee ordering has come!

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