Bakkt, a cryptocurrency custody and futures trading platform, said its users will be able to pay for Starbucks coffee with its new payment application in 2020.
The application helps users gain access to digital currencies as well as tracking all transactions easily. Starbucks is said to be the first to join the new payment application.
Starbucks Vice President Maria Smith said the application will convert digital assets into US dollars for use at Starbucks.
Bakkt said the application will help expand the user base of digital assets into locally useful payment systems. The company is working at a fast pace to reduce the risks that could devalue digital assets and affect the purchasing power of the users.
The application is scheduled for launch in 2020, and users can purchase their items and products in Starbucks through the payment application in the first half of 2020. However, what points-of-sale Bakkt will be using for exchanging digital assets remain unclear.