Bakkt has formed another agreement to increase the number of cryptocurrency payment methods available. It’s with Google Cloud this time.
Bakkt, a digital asset platform, has partnered with Google to “bring digital assets to millions of users.” Consumers will gain from “increased reach and access” to cryptocurrencies as a result of the cooperation, according to Bakkt.
Google and Bakkt have teamed up to make cryptocurrency more accessible to the general public.
Bakkt (“Bakkt”) is a secure digital asset platform where users may buy, sell, send, and spend digital assets. On Friday, Bakkt declared its partnership with Google to “bring digital assets to millions of customers.” By forging a strategic alliance with Google.
“Consumers will gain from increased reach and access to digital assets,” Bakkt stated.
“Users will be able to add their virtual Bakkt Visa Debit Card to Google Pay to pay everyday products and services online, in-store, or anywhere Google Pay is accepted,” according to Bakkt. The company stressed that cryptocurrencies like bitcoin will be changed to fiat currency before these payments can be made. Read our beginners guide on How to buy Bitcoin(BTC)?
Bakkt also intends to add additional analytics to its platform, as well as machine learning (ML), artificial intelligence (AI), and geo location capability, in order to extract deep, location-aware business insights using Google Cloud’s industry-leading technologies. These insights will provide Bakkt customers with more loyalty redemption possibilities, as well as useful consumer activity patterns backed by Google Cloud infrastructure for Bakkt partners.
Bakkt stated in a statement Friday that cryptocurrency balances will be converted to fiat to allow transactions to take place.
Bitpay and Coinbase, a Nasdaq-listed cryptocurrency exchange, are among the sites that have adopted Google Pay. In August, the former enabled Coinbase Card users to pay using Apple Pay and Google Pay, while the latter enabled Coinbase Card users to pay with Apple Pay and Google Pay in June.
Also Read: Top 10 Most Promising Cryptocurrency in 2021
Bakkt also announced that Google Cloud has been chosen as its preferred cloud provider. Leading retailers and merchants in the United States will be marketed the company’s Google Cloud-powered solutions.
“This partnership demonstrates Bakkt’s dominant presence in the digital asset industry, allowing consumers to enjoy their digital assets in genuine time, in a secure, and trustworthy manner,” stated Gavin Bakkt, CEO of Bakkt.
“We are happy to help Bakkt speed and scale the availability of their unique solutions, driven by our technology,” said Kirsten Kliphouse, Google Cloud President of North America.
Bakkt is increasing cryptocurrency adoption.
Bakkt has made numerous attempts to develop bitcoin use-cases in the United States, and this latest agreement is only one of them. In August, the business teamed up with Quiznos to test a Bitcoin payment system at a few Denver Quiznos locations.
Following the April launch of the Bitcoin app, the group cooperated with Starbucks. Users can now use the app to recharge their Starbucks cards.
Google Cloud has also been of assistance. Dapper Labs, the inventors of the Top Shot NFT marketplace, have teamed with the company to assist scale the latter’s blockchain.
Bakkt is a safe and trustworthy digital asset platform where businesses and individuals may purchase, sell, store, and consume digital assets. Bakkt’s retail platform, which is currently available through the Bakkt App, increases consumer spending and strengthens loyalty programmes, benefiting all key stakeholders in the Bakkt payments and digital assets ecosystem. Intercontinental Exchange Inc. launched Bakkt in 2018 and is situated in Alpharetta.