Chepicap recently reported on Bakkt’s partnership with Starbucks as well as the platform’s announcement that it has delayed the launch of their Bitcoin futures products to January next year. Bakkt CEO Kelly Loeffler gives some insight into this during the Consensus Invest event.
Regarding Bakkt’s plans to move ahead with their Starbucks partnership, Forbes journalist Michael del Castillo explains that, for anyone else who was wondering ‘Why Starbucks?’, Loeffler said the idea originated because they wanted “to be able to give their customers more options in their ability to pay… to be able to pay with Bitcoin.”
Anyone else wondering why Starbucks is working with @NYSE crypto exchange @Bakkt? Bakkt CEO Kelly Loeffler says it was "to be able to give their customers more options in their ability to pay…to be able to pay with bitcoin." at #ConsensusInvest tweeting via @ForbesCrypto pic.twitter.com/TAUiGZ37MU
— Michael del Castillo (@DelRayMan) November 27, 2018
Their partnership with Starbucks will see the creation of a system that will allow crypto-to-fiat conversions which will give customers the option to pay with cryptocurrencies.
Loeffler also explained the reasoning behind the delayed Bitcoin futures launch, reiterating her explanation during the announcement, saying “the pipeline filled up with custom
The CEO of @NYSE crypto exchange @Bakkt says she delayed the launch because "the pipeline filled up with customers." At #ConsensusInvest from @coindesk via @ForbesCrypto pic.twitter.com/gHHnYF6VUj
— Michael del Castillo (@DelRayMan) November 27, 2018
Speculation began rising on Twitter after her announcement, with some theorizing that industry insiders knew about the announcement ahead of time, triggering a mass sell-off which caused the market crash. While the timing may be suspicious, we may never really know if insider knowledge was the cause.
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