Bakkt Crypto exchange has partnered with Google for payments. 

Currently, millions of retailers in the market accept Google Pay as an acceptable form of payment. This has potentially given Bakkt users the ability to pay in crypto at a variety of stores and online markets.

Customers who hold debit cards issued by crypto exchange Bakkt can convert their crypto balances to make payments using Google Pay.

Bakkt mentioned in a Friday announcement that it has successfully partnered with Google to allowing its users to now purchase goods and services using Bitcoin and other cryptos through the Google Pay wallet. Using Google Cloud tools, Bakkt also plans to include new geolocation and analytics functionality on its platform.

Gavin Michael, the Bakkt CEO, said, “This partnership is a testament to Bakkt’s strong position in the digital asset marketplace, to empower consumers to enjoy their digital assets in a real-time, secure, reliable manner,”

Bakkt was launched in 208 by the Intercontinental Exchange in 2018. It started with offered Bitcoin futures contracts exclusively to accredited investors. Later, in March, the crypto exchange platform released a payments app that allowed its customers to use crypto to make purchases. This app was designed to “amplify consumer spending, reduce payment costs, and bolster merchant loyalty programs.”

Rushali Das

CBW - External Analyst

INDIA