As part of the partnership, users of the Bakkt Visa card will pay with cryptocurrencies for goods and services
Bakkt, one of the fastest growing cryptocurrency custody and exchange marketplaces, is teaming up with tech giant Google to allow millions of consumers to pay with cryptocurrencies.
According to the platform, the partnership with Google aims to meet consumer demand for payments with cryptocurrencies such as Bitcoin, thus increasing the adoption and use of digital assets worldwide.
Thanks to this collaboration, Bakkt users can now link their crypto Visa debit cards to Google Pay, allowing them to seamlessly use their crypto holdings to pay for goods and services.
Empowering Crypto Users
According to Gavin Michael, CEO of Bakkt, the partnership with Google demonstrates the strong position of the digital asset marketplace in the industry, and the result is a strengthening of crypto holders.
“This partnership is a testament to Bakkt’s strong position in the digital asset market, enabling consumers to use their digital assets in real time and in a safe and reliable way”he explained.
Bakkt has also chosen Google Cloud as a provider of cloud solutions and relies on Google Cloud technology to market its products to major retailers and merchants in the United States.
Supported by the Intercontinental Exchange (ICE), the platform also offers new analytics capabilities based on artificial intelligence (AI) and machine learning (ML) to reach businesses and consumers.
With the new features, Bakkt customers will benefit from an extended loyalty program, while business partners will benefit from a pool “valuable consumer behavior pattern” can benefit.
“The partnership with Google Cloud will allow us to continue to build a world-class, innovative platform that is undoubtedly scalable to meet the needs of millions of users”, adds Gavin Michael.
Bakkt launched in 2018 and raised $300 million in a Series B financing round in May 2020 to expand its services in the retail market. The platform’s BTC futures contracts were launched in December 2020.
According to the press release, Bakkt users will be able to use the new services online and in stores that accept Google Pay.