Bakkt, a digital assets platform based in the US, has collaborated with Google to introduce digital assets to consumers. They announced that through their partnership with Google, the latter will be able to extend the usability and reach of their digital assets and meet the demands and preferences of consumers that are rapidly evolving.
Because of the agreement between the two companies, 10 million Bakkt users will have the option to link their virtual debit cards with Google Pay and buy services and goods online through cryptocurrencies such as Bitcoin. After they have linked their cards to the payment services, their cryptocurrencies will be converted into fiat currency seamlessly that are backed by the government. They can use these currencies for making payments.
Bakkt also released their own Visa Debit card in 2021 that enabled cryptocurrency transactions for their users. After the card has been integrated with Google Pay, whenever the user pays using cryptocurrency, the good’s or service’s monetary value will be converted into fiat. As per the CEO of Bakkt, Gavin Michael, their partnership will ensure that people are able to enjoy their digital assets in a reliable and secure manner and in real time. They will be able to benefit from the accessibility of cryptocurrency services or digital assets. Also, Bakkt will be using the tools of Google cloud for building new analytics.
Bakkt is a digital asset marketplace that was launched by Intercontinental Exchange in 2018. Intercontinental Exchange is New York Stock Exchange’s (NYSE) parent company. Bakkt enables its consumers to sell, buy, and spend their digital assets.