Starbucks CEO: Starbucks is exploring the tokenization of "Star Points" and already supports cryptocurrency recharges for membership cards

On October 29, according to Seekingalpha, at Starbucks' fourth quarter 2021 earnings conference call, Starbucks President and CEO Kevin Johnson said that through the payment partnership with PayPal and Bakkt, customers can convert digital currencies (including Bitcoin, Ethereum, etc.) into fiat currency to recharge Starbucks membership cards. Kevin also said that through blockchain technology, Starbucks is exploring the tokenization of "Star Points", aiming to link rewards with other brands, allowing customers to participate in cross-brand value exchanges and enhance digital services. The plan is expected to be implemented within a year. Rhythm previously reported that in March of this year, cryptocurrency trading platform Bakkt launched a digital wallet application with partners such as Starbucks. Users can use the program to buy and sell Bitcoin, pay friends with Bitcoin and cash, purchase discounted gift cards from more than 75 brands, and convert selected loyalty points into cash.