A new partnership between the Bakkt platform and Google may increase the adoption and use of cryptoassets as a means of payment. According to the agreement between the companies, users will use digital currencies as a means of payment through Google Pay.
The integration of the services will be through a virtual debit card offered by Bakkt. The card will allow users to use their cryptoasset balance to pay for purchases and services through the app.
In addition to online purchases, the service will be available for payments anywhere that accept Google Pay. Thus, it will be possible to use cryptoasset as a payment method in everyday life.
While announcing cryptoasset integration with Google Pay, Bakkt said it would preferentially use Google Cloud services. The service will be maintained to store data for the platform that trades digital currencies, according to a statement from Bakkt CEO Gavin Michael.
“This partnership is a clear proof of Bakkt’s strong market position to empower consumers to enjoy their digital assets in real-time, secure, and reliable ways. In addition, partnering with Google Cloud will allow us to continue to build the best platform scaled to meet the needs of millions of users”, Michael said.