The new big partnership in the world of cryptocurrencies is the one between Bakkt, the digital asset platform with the giant Google. Everyone involved will be able to reap benefits.
Google to Help Bakkt Introduce Crypto to their Users
Bakkt collaborates with Google to widen consumer access to cryptocurrencies, informed the digital asset platform on Friday. Thanks to this partnership, consumers will be able to start using crypto in an easier way.
Bakkt started operating in 2018 by Intercontinental Exchange, NYSE‘s parent company, which allows companies and consumers to trade, store and spend digital coins, inclusive of cryptocurrencies as well.
Users will get the chance to add their virtual Bakkt Visa Debit Card to Google Pay in order to buy different online or in-store products and services, or anywhere else that Google Pay is valid. The way this will work is by converting cryptocurrencies, for example, Bitcoin, to fiat currency so these payments can take place, explains Bakkt.
Bakkt will not be the first platform to incorporate Google Pay into their payment process, other cryptocurrency platforms, such as Bitpay and Coinbase, have already done this. Bitpay added Google Pay making it possible for U.S cardholders to spend cryptocurrencies in the summer, whereas, the crypto exchange Coinbase allowed Coinbase Card users to make payments throughout Google Pay and Apple Pay in June.
Bakkt Partners with Cloud Services
Moreover, Bakkt states that it has chosen Google Cloud as the right cloud provider. The company’s Google Cloud-powered solutions will be marketed to U.S retailers and merchants. Another plan of Bakkt is to make use of Google Cloud’s tools to create new analytics, machine learning, artificial intelligence as well as geolocation functionality on its platform.
This partnership only reinforces the idea of Bakkt as one of the leading names in the digital asset marketplace, with the purpose to help consumers enjoy their digital assets in a secure way, comments Gavin Michale, the CEO of Bakkt.
On the other hand, Kirsten Kliphouse, the Google Cloud president of North America also comments on this partnership. He expresses his own willingness to collaborate with Bakkt and see them advance through Google Cloud technologies.
Also read: Visa’s New System to Allow Crypto Payments