Starbucks starts accepting bitcoin in Hong Kong

Starbucks, the leading coffeehouse chain in the world, has started accepting bitcoin in its Hong Kong-based branches. The company has launched a new service called "FOLD", which will enable users to make payment in bitcoin and also enjoy a 20 percent discount.

The customers will be provided with a personal Starbucks code, which they can load with bitcoin and make payment with it similar to using a gift card. Though the app is untested for regions outside the United States, it has been confirmed that it is working in Hong Kong by the Bitcoin Association of Hong Kong.

FOLD, a new start-up, seeks to enable people to 'start spending bitcoin in the real world', and is working on associating with three companies: Starbucks, Target and Whole Foods, at present.