Digital Assets: Bakkt’s Virtual Visa Debit Card To Work With Google Pay
Crypto exchange Bakkt customers would be able to spend their digital assets on Google Pay using the Bakkt card.
Bakkt announced today a tie-up with Google (NASDAQ: GOOGL) to allow Bakkt users to add their virtual Bakkt Visa Debit Card into Google Pay to purchase everyday goods and services online, in-store, or wherever Google Pay is accepted. A user’s crypto balance, such as bitcoin, would be converted into a fiat currency, such as dollars, to facilitate the payment. (BusinessWire)
“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,” said Gavin Michael, CEO.
In June, Coinbase (NASDAQ: COIN) announced users could earn up to 4% crypto rewards by using its Coinbase Debit Card with Apple Pay or Google Pay for everyday purchases.
Google selected as cloud provider
Bakkt simultaneously announced it had selected Google Cloud as a preferred cloud provider.
Google Cloud will market the digital exchange’s solutions to retailers and merchants in the US.
The Bakkt platform will be expanded to include additional functionalities such as AI-powered data analytics and geolocation to obtain business insights that its consumers can use for loyalty redemption options; on the other hand, Bakkt partners would benefit from knowledge of consumer behaviour patterns.
“Partnering with Google Cloud will enable us to continue to build a best-in-class, innovative platform that can undoubtedly scale to meet the needs of millions of users,” added Michael.
“Google Cloud has been at the forefront of accelerating digital commerce, powering many retailers and merchants,” said Kirsten Kliphouse, Google Cloud President of North America. “We are proud to help Bakkt accelerate and scale the availability of their innovative solutions, powered by our technologies.”
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