Google Pay arrives in the crypto sector through a partnership with Bakkt

Bakkt holds a Series B funding round, raises over $300m

Bakkt, a well-known digital asset marketplace, has recently entered a new partnership that has massive potential to bring new crypto users to the industry. The partnership was established with none other than Google itself, with Bakkt intending to use its Google Pay service in order to push crypto adoption.

According to the recently published press release, users will soon be able to add their Bakkt Visa Debit Card directly into Google Pay and spend their crypto funds from Google’s payment service.

Bakkt Visa Debit Card is a relatively new option for those looking to spend their coins, as well. It was released earlier this year, which makes it quite impressive that Bakkt has already managed to ink a deal that will combine it with Google Pay.

The process will convert digital currencies into fiat currencies before it arrives at recipient’s account, so merchants can continue to receive fiat, while Bakkt’s users will pay with crypto. With the move, the number of things that users will be able to purchase with crypto will drastically increase.

Bakkt also gets access to Google Cloud and its tools

In addition to combining their payment products, Google will also allow Bakkt to use its Google Cloud, as its preferred cloud provider. This will allow it to market its services to US merchants and retailers, as well as to implement new analytics, AI, and ML technology and tools via the cloud’s own tools.

This will allow the company’s partners to use the tools for identifying consumer behavior patterns and organize their own businesses accordingly. Bakkt CEO, Gavin Michael, said that the partnership serves as a testament to Bakkt’s strong position in the crypto space and that it will allow the company to continue to create the best, most innovative platform that will be able to scale to meet the needs of millions of users.

The post Google Pay arrives in the crypto sector through a partnership with Bakkt appeared first on Invezz.


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