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Digital asset platform Bakkt has partnered with Google to introduce digital assets to millions of consumers.” Under the partnership deal, users will be able to add their Bakkt Visa Debit Card directly into Google Pay. For the payments to occur, cryptocurrencies such as bitcoin (BTC) will be converted to fiat currencies.
Bakkt Partners With Google
Intercontinental Exchange’s digital asset platform, Bakkt, says its virtual Visa Debit Card is now available for use on Google Pay online and in stores “to purchase everyday goods and services online, in-store, or wherever Google Pay is accepted.”
Commenting on the partnership, Gavin Michael, Bakkt CEO, said:
“This partnership is a testament to Bakkt’s strong position in the digital asset marketplace, to empower consumers to enjoy their digital assets in a real-time, secure, reliable manner.”
In addition, Bakkt has also chosen Google Cloud as a preferred cloud provider and will market its solutions powered by Google Cloud to leading retailers and merchants in the U.S. Not only that, but the digital asset platform also plans to leverage Google Cloud’s tools to build new analytics along with artificial intelligence (AI), machine learning (ML), and geolocation functionality on its platform.
The platform says that these insights will give customers expanded loyalty redemption options while offering its partners valuable customer behavior patterns.
Kirsten Kliphouse, Google Cloud President of North America, said:
“Google Cloud has been at the forefront of accelerating digital commerce, powering many retailers and merchants. We are proud to help Bakkt accelerate and scale the availability of their innovative solutions, powered by our technologies.”
Crypto Platforms Flocking to the World's Most Popular Payments Company
This is not the first time a cryptocurrency platform has added support for Google Pay. In August, Bitpay added Google Pay for U.S. cardholders to spend cryptocurrencies while in June, Coinbase enabled its virtual debit card to make payments via Apple Pay and Google Pay.
Launched in 2018 by Intercontinental Exchange Inc., the parent company of the New York Stock Exchange (NYSE), Bakkt allows institutional investors to buy, sell, store and spend digital assets, including cryptocurrencies. Just last month, Bakkt received approval from the U.S. Securities and Exchange Commission to go public.