Is there another surprising acceptance waiting for the digital payment market? Foreign media reports that the coffee giant Starbucks, which has more than 30,000 stores worldwide, will use a cryptocurrencies to manage prepaid cards. The Korea Times, among others, reports about the case.
Starbucks and billions of dollars from SBUX cards
Starbucks offers its customers prepaid SBUX cards that enable them to purchase coffee comfortably. It’s more than a cool service – the company boasts more than 1.5 billion customers who want to buy coffee with these gift cards.
But one problem has arisen. Due to regulatory obstacles and the need to deal with multiple fiduciary currencies, the company sees sense in turning to crypto.
Anyway, the corporation has already suggested that it is quite sympathetic to the cryptocurrenciess. It is worth noting that Starbucks has made a significant investment in the ICE-supported Bakkt platform. According to U.S. Today, both companies are also working on a consumer application that will allow Starbucks customers to make payments using crypto.
“As a flagship retailer, Starbucks will play a key role in developing practical, trusted and regulated consumer applications to convert their digital content into US dollars.
– was predicted some time ago by Maria Smith, vice president of partnership and payments at Starbucks.
As early as April 2019, Blockchain Capital founder Gavin Brown suggested that large multinational corporations could issue their digital coins using SBUX prepaid cards as an example. However, recent reports do not specify whether Starbucks will issue its own crypto or rely on existing ones.
It’s worth noting that not only Starbucks has a keen interest in blockchain and digital currencies in the restoration industry.
Recently we also wrote about Burger King’s plans. The fast food chain started to cooperate with the payment provider GoCrypto at the end of last year and has since then accepted Bitcoin and Bitcoin Cash in Slovenia.
In turn, in September 2019. Burger King in Germany started accepting Bitcoin, but quickly gave up this form of payment.