Starbucks is getting into cryptocurrency… kind of

By Felicity Duncan In a sign that cryptocurrency may be going mainstream, Starbucks is teaming up with the Intercontinental Stock Exchange (the parent company of the NYSE), BCG, and Microsoft to launch Bakkt – a platform for exchanging cryptocurrency for fiat currency. The news sent Bitcoin bros into a fury of excitement, but Starbucks poured cold water on the hype, pointing out that this doesn’t mean Starbucks will be accepting payment in cryptocurrency. It won’t. Rather, Bakkt will offer a way for people who have digital coins and want to trade them in for goods and services to convert their crypto into “real” money. In other words, it seems like Bakkt will be an exchange where you can buy and sell cryptos using regular cash. There are plenty of cryptocurrency exchanges out there, so this news wouldn’t be too major if it weren’t for the fact that the Bakkt consortium includes such big-name brands. If Microsoft and Starbucks are getting involved, well, perhaps cryptos are on their way to legitimacy. In Premium today, you can listen to Amanda Smit, a director at Henley & Partners South Africa, explain why South Africa’s Green Mamba passport if falling down the global ranks. You can read about the New York Times blistering article on former Mpumalanga premier David Mabuza and you can learn how to avoid having your social media posts cost you your next job.