Bakkt, a digital asset custody and exchange platform, partnered with Google to enable its customers to make online purchases with cryptocurrencies. The service will only work for the United States at the moment and can be used with a Bakkt Visa debit card in all stores that accept Google Pay.
The goal of the alliance is to expand the reach and usability of digital assets offered by Bakkt to meet consumer demand. Precisely this American company is dedicated to providing cryptocurrency buying, selling, shipping and storage services, such as bitcoin, both to individuals and institutions.
Galvin Michael, the CEO of Bakkt, declared that this partnership is proof of the company’s strong position in the cryptocurrency market. He maintains that the initiative will allow consumers to train in this ecosystem and “enjoy their digital assets in a reliable, secure and real-time way.”
It is worth clarifying that, within the same application, cryptocurrencies will go through an automatic settlement to USD to make each purchase. This means that payments cannot be paid directly with bitcoin, for example, but the currency will be quoted and converted at the exchange rate of the day to carry out the operation.
Bakkt will use Google Cloud and Google Pay
The startup also confirmed that it has selected Google Cloud as its official cloud provider to market digital solutions aimed at retailers and merchants. Galvin Michael believes that this decision will allow them to “continue to build the best innovative platform in its class.”
The CEO says he has no doubt that his exchange “can scale to meet the needs of millions of users.” This technology will collect geolocation and behavior data from users to offer them a more personalized experience and benefits, such as exchanges for their loyalty.
Kirsten Kliphouse, President of Google Cloud North America, said: “We are proud to help Bakkt accelerate the reach of its innovative solutions, powered by our technologies.”
This is another of the initiatives that demonstrate the commercial interest that exists in adhering cryptocurrencies to payment systems. It doesn’t just happen in the United States. It also occurs in the Spanish-speaking market. This is the case of Binance, for example, which offers a prepaid bitcoin debit card in Spain, or Buenbit, which does the same in Argentina, as previously reported by CriptoNoticias.