Appropriators who grip debit cards appeared by cryptocurrency exchange Bakkt will be able to alter their crypto balances to make fiat payments using Google Pay. On Friday Announcement Bakkt said it had partnered with Google to permit its users to buy goods and services using Bitcoin (BTC) and other cryptocurrencies through the Google Pay wallet and payment system. In addition, Bakkt plans to create new analytics and geolocation functionality on its platform using Google Cloud outfits.
“This partnership is a testament to Bakkt’s strong position in the digital asset market, to enable consumers to enjoy their digital assets in real time, in a secure and reliable manner,” said Gavin Michael, CEO of Bakkt.
The exchange hopes that the features will expand loyalty redemption options “while providing Bakkt partners with valuable consumer behavior patterns.”
According to Google, “millions” of retailers are currently accepting Google Pay as a payment method, potentially giving Bakkt users the ability to pay in crypto at “supermarkets, pharmacies, restaurants, clothing stores, gas stations. , beauty institutes ”and others. The partnership with Bakkt follows Coinbase’s announcement in June of a major cryptocurrency exchange that saw Apple Pay and Google Pay offer support for its Coinbase card. Gemini has been allowing its users to buy cryptos with Apple Pay and Google Pay since April.
Launched by the Intercontinental Exchange in 2018, Bakkt first offered BTC futures exclusively to accredited investors. In March, the platform released a payments app that allows users to use crypto to make purchases, designed to “amplify consumer spending, lower payment costs, and strengthen merchant loyalty programs.”
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