'No Coffee for Bitcoin,' Starbucks Clarifies as Media Misrepresent Its New Crypto Venture

Starbucks has clarified that it will not be accepting Bitcoin or other cryptocurrencies as payment, despite misleading reports from mainstream media, a spokesperson told Motherboard Friday, July 3.

Earlier on Friday, New York Stock Exchange operator the Intercontinental Exchange announced plans to create a new "Global platform and ecosystem for digital assets," dubbed "Bakkt," alongside a group of big name enterprises including Starbucks, BCG and Microsoft.

"At the current time, we are announcing the launch of trading and conversion of Bitcoin. However, we will continue to talk with customers and regulators as the space evolves."

"As an initial component of the Bakkt offering, Intercontinental Exchange's U.S.-based futures exchange and clearing house plan to launch a 1-day physically delivered Bitcoin contract along with physical warehousing in November 2018, subject to CFTC review and approval."

In May, the New York Times reported on sources suggesting the ICE was considering launching physically-delivered BTC futures contracts, a move Friday's news confirms.

In late July, former Wall Street exec turned crypto entrepreneur stated crypto markets "Need a trusted, name custodian - a Japanese bank or HSBC or ICE or Goldman Sachs - to allow institutional investors to feel comfortable."