SBUX Prepaid Gift Cards and Starbucks Expansion

Coffee giant Starbucks plans to use cryptocurrencies to manage revenue generated by customers using prepaid gift cards. Starbucks currently offers its customers SBUX prepaid cards to order coffee in advance. In fact, this means that Starbucks borrows money without interest.

The company has over 30,000 stores worldwide. If Starbucks expands its asset management business, it will become a fintech giant and a notable competitor for Korean banks. In April 2019, Gavin BROWN, the founder of Blockchain Capital, invited multinational companies to issue their own coins, just like Starbucks launched SBUX prepaid cards. It is still unknown whether the coffee giant is going to issue cryptocurrency or still rely on an existing platform.

It is also known that Starbucks, as part of its expansion program, plans to open 100 stores in low-income areas throughout the United States. It is planned to open such a number of Starbucks stores by 2025.

Image courtesy of Forbes