Market Analysis

Microsoft, Starbucks And The ICE Exchange Are Launching A New Platform ‘Bakkt’ Soon.

The ongoing increasing acceptability and popularity of the cryptocurrencies has led the world to think of there uses, in the mere future market. Top companies and brands now a days are thinking of utilising cryptocurrencies in increasing their revenue considering the market vulnerability associated with it. Recently, a news of collaboration between Microsoft and Starbuck followed by the intercontinental exchange ICE, hit the market that a new platform called ‘Bakkt’  would be launched soon and would employ cryptocurrency payment system to help people spend their cryptocurrencies more wisely.

Starbucks is an American Coffee company and coffeehouse chain founded in the year 1971 currently operational at 28,218 locations worldwide. To attract the new market of the digital world, the company recently announced its partnership with the tech giant of this era ‘Microsoft’ to introduce a new platform along with ICE exchange called ’Bakkt’. The Intercontinental Exchange or the ICE is an American company head quartered at Atlanta, U.S. and owns exchanges for financial and commodity markets, currently operating 23 regulated exchanges and marketplaces globally.

This new platform of partnership ‘Bakkt’ is expected to be launched by November this year and will allow customers to purchase anything from the Starbucks services, in cryptocurrencies. The vice president of payments and partnerships ‘Maria Smith’ stated this partnership as:

“As the flagship retailer, Starbucks will play a pivotal role in developing practical, trusted and regulated applications for consumers to convert their digital assets into US dollars for use at Starbucks. As a leader in Mobile Pay to our more than 15 million Starbucks Rewards members, Starbucks is committed to innovation for expanding payment options for our customers.”

This partnership is highly appreciated by the community. Even the CEO of BKCM-LLC ‘Brian Kelly’ welcomed this partnership as a step towards the increasing acceptability of the cryptocurrencies around the globe. BKCM – LLC is an independent investment firm specialising in cryptocurrency and blockchain-focused investment opportunities.

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