It’s not a surprise that Ripple is constantly after signing new partnerships with important financial institutions. In the past, they reached agreements with Bank of America, Santander Bank, or even the Central Bank of Saudi Arabia. And they’re not stopping here since they’re about to sign a new partnership, but with a different type of company.
There have been rumors regarding a big number of companies which could start using Ripple for payments in 2018, one of them being Starbucks.
Taking mobile payments to the next level
According to a report from Coinspeaker, Starbucks can adopt the digital asset as a payment method in the future. Until now, a third of its orders are received from the mobile app, so it’s obvious that the coffee chain’s clients are used to paying electronically.
Besides this, Howard Schulz, Starbucks CEO, revealed that he’s excited about the idea of blockchain and using crypto coins for payment.
“I believe that we are heading into a new age, in which blockchain technology is going to provide a significant level of a digital currency that is going to have a consumer application,” he said.
However, Mr. Schulz did mention that they’re not planning to incorporate Bitcoin, but other currencies could be adopted. In this case, Ripple has the chance to become one of their main options, alongside Litecoin, Stellar, or even Ethereum. XRP does have an advantage though: the reduced transaction cost and the fact that it can process thousands of transactions per second.
This would have a huge impact on the price
Obviously, if this partnership becomes reality, Ripple will receive a lot of attention from the media. Considering that we’re talking about a really volatile asset, the price could go seriously high, as it was proven in the past when similar news influenced the prices.
Besides this, if Starbucks does it, other retailers may want to capitalize on the trend as well, thus starting to offer cryptocurrency payments. Investors, keep your eyes on this!