The partnership provides for Bakkt Visa card users to pay for goods and services using crypto
Bakkt, one of the fastest growing crypto custody and exchange marketplaces, is partnering with tech giant Google on a deal that will see millions of consumers pay in crypto.
According to the platform, the partnership with Google aims to meet consumer demand for paying with cryptocurrencies like Bitcoin and to expand the adoption and use of digital assets worldwide.
With this collaboration, Bakkt users can now link their crypto Visa debit cards to Google Pay, which enables seamless use of their crypto holdings to pay for goods and services.
Empowering crypto users
According to Bakkt CEO Gavin Michael, the partnership with Google demonstrates the strong position of the digital asset marketplace in the industry, with the result that crypto owners will be empowered.
“This partnership is testament to Bakkt’s strong position in the digital asset market so that consumers can enjoy their digital assets in real time, safely and reliably.” he noticed.
Bakkt has also chosen Google Cloud as its cloud solutions provider and aims to use Google Cloud’s technology to market its products to major retailers and distributors in the US.
The platform supported by Intercontinental Exchange (ICE) also has new analytics in mind and uses artificial intelligence (AI) and machine learning (ML) functions to reach companies and consumers.
With the new features and functions, Bakkt customers should benefit from an expanded loyalty program, while business partners should benefit from a pool of “Valuable consumer behavior”.
“Partnering with Google Cloud will allow us to continue building a world-class, innovative platform that will undoubtedly adapt to the needs of millions of users.” Gavin Michael added.
Bakkt launched in 2018 and raised $ 300 million in a Series B funding 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 access the new services online and in stores that accept Google Pay.