Bakkt Announces Direct Payment Integration With Starbucks

A new direct payment integration brought about by a major digital asset platform Bakkt makes it even easier to order that double espresso from Starbucks.

Starbucks mobile app users will soon be able to pay for their drinks using “Bakkt Cash.” Intercontinental Exchange (ICE), parent company of the Bitcoin derivatives provider, had announced back in August 2018 that the coffee behemoth was seeking retail application for crypto payments.

On March 16, Bakkt President Adam White unveiled the new payment integration with Starbucks on Twitter:

Bakkt, believed to be one of the strongest crypto-related initiatives, recently obtained $300 million in a funding round to proceed with building digital asset-focused services.

The funds come amid crypto and stock markets instability due to the restrictions imposed in order to halt the coronavirus proliferation. ICE had earlier announced that the company planned to use the raised capital to purchase software for creating the Bakkt app.

Testing for crypto payments will be limited

Though users of the mobile app might have access to Bakkt Cash immediately, White stressed that clients had to sign up for the platform’s Early Access Program to take advantage of the new payment integration.

Sources note, that now the crypto payment option is in limited beta, according to Bakkt:

“We are currently conducting a limited test for our customers, using the Bakkt payment method. Customers can see Bakkt as an option but the test is only available at this time.”

Select users can choose Bakkt Cash for payments, but Starbucks has shut down all its shops to eat-in customers due to the coronavirus pandemic. Only to-go orders will be accepted until further notice.