Announced this morning is some pretty major news that Bitcoin (available on Coinbase) bulls have been waiting for; Intercontinental Exchange (ICE) – the trading giant that owns the New York Stock Exchange – has a goal of breaking Bitcoin (available on Coinbase) into mainstream currency and it plans to do this by forming a new company called Bakkt. 

Bakkt is soon to be launched by Wall Streets major player, but it also joins forces with some of America’s biggest companies including Microsoft and Starbucks. 

What’s Going On?

This morning ICE announced that its new company is expected to launch in November. Bakkt aims to offer a federally regulated market for Bitcoin (available on Coinbase), transforming Bitcoin (available on Coinbase) into a trusted global currency with broad usage. 

Yowza.

As mentioned, ICE is not acting alone, the new venture also involves heavyweights in the form of Microsoft (technology), Starbucks (retail) and Boston Consulting Group (consulting).

Responding to the news, Maria Smith – Vice President of Partnerships, and Payments for Starbucks – said the following about the coffee-chains involvement;

“As the flagship retailer, Starbucks will play a pivotal role in developing practical, trusted and regulated applications for consumers to convert their digital assets into US dollars for use at Starbucks,” said Maria Smith, Vice President, Partnerships, and Payments for Starbucks.