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Bakkt Will Allow You to Spend Bitcoin at Starbucks with Its New App: Details

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    Bakkt to launch a consumer app for spending Bitcoin with Starbucks being its first partner

Bakkt Will Allow You to Spend Bitcoin at Starbucks with Its New App: Details
Cover image via www.123rf.com

In its latest blog post, Bakkt has made an announcement about a new consumer app that could potentially streamline the adoption of cryptocurrencies. 

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Mike Blandina, who joined Bakkt as its new chief product officer back in April, claims that the company is currently working on an app that would allow paying merchants with crypto. The app's rollout is expected to take place during the first half of 2020. 

Bakkt will be teaming up with Starbucks to test out the forthcoming project. The partnership with the coffee giant has been brewing for more than a year.    

We’re now focused on the development of the consumer app and merchant portal, as well as testing with our first launch partner, Starbucks, which we expect in the first half of next year.

However, it's worth mentioning that Starbucks will not accept your BTC. After numerous reports started circulating on the web, the company's spokesperson was quick to deny all the rumors and bring more clarity to the table. Crypto will be simply converted into the US Dollar, which is already possible to do with apps in the likes of Spedn.

As reported by U.Today, Amazon customers can now pay for goods with Bitcoin, but this is only possible with the help of a third-party extension called "Moon."

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Institutional Interest in Bitcoin Called into Question as Bakkt Struggles to Pick Up Steam

Institutional Interest in Bitcoin Called into Question as Bakkt Struggles to Pick Up Steam

Speaking of Bakkt, the company has been on a roll as of recently after a tepid reception. The exchange announced the launch of Bitcoin options on its futures contracts before recording an all-time high trading volume on the same day Bitcoin surged by about 40 percent

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Ripple Once Again Tries to Toss Class-Action Lawsuit, Insists XRP Is Not a Security

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    Ripple makes a final push to dismiss the damning class-action lawsuit ahead of a court hearing that is scheduled for January 2020

Ripple Once Again Tries to Toss Class-Action Lawsuit, Insists XRP Is Not a Security
Cover image via 123rf.com

Ripple has once once again asked a federal court to dismiss the pending class-action lawsuit over selling illegal securities, a new court filing shows.

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The company reiterates the same "statue of repose" argument, which means that the plaintiffs failed to meet a legal deadline for filing the suit. Ripple started selling XRP to retail investors back in 2013, which means that it was way too late to bring legal actions against it back in summer 2018 after a bar to a lawsuit was imposed in 2016.    

The blockchain behemoth also continues to insist that XRP is not a security, but it called this issue "irrelevant" to their latest motion, which is why it didn't address this point in-depth. It's not the first time that Ripple tries to dodge the big question that is the cornerstone of the long-lasting legal battle. 

"XRP is not a security, but that is irrelevant for purposes of this motion. Even if XRP were a security, Plaintiff's claims still fail as a matter of law,” the filing said.   

Ripple's previous attempt to throw the suit out of the court didn't bode well. As reported by U.Today, Bradley Sostack, the leading plaintiff in the ongoing case, believes that the defendants are still liable for selling illegal securities. The parties are expected to duke it out in court in January 2020.  

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Ripple CEO Brad Garlinghouse: 99 Percent of All Crypto Goes to Zero

Ripple CEO Brad Garlinghouse: 99 Percent of All Crypto Goes to Zero

XRP's status as a security remains a point of contention within the cryptocurrency industry. Crypto influencer BitLord recently slammed Ripple for dumping their native tokens on investors to acquire businesses.    

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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