Bakkt, a digital asset marketplace that lets institutions and consumers buy, sell, store and spend digital assets has teamed up with Google to introduce digital assets to millions of consumers.
According to Bakkt, the partnership will allow the firm to extend the reach and usability of digital assets to meet rapidly evolving consumer demand and preferences.
In a press release, the Bakkt team stated that users could add their virtual Bakkt Visa Debit Card into Google Pay to purchase goods and services. This can be online, in-store, or wherever Google Pay is accepted.
In addition, the support that Google Pay has added support for Bakkt will enable cryptocurrencies like Bitcoin (BTC) to be converted to fiat currency for these payments to occur.
Furthermore, the firm also added that it would leverage Google Cloud’s capabilities to develop new analytics powered by artificial intelligence (AI) and machine learning (ML).
Bakkt CEO Gavin Michael also made some statements about the partnership. He said that this collaboration is a testament to Bakkt’s position in the virtual asset marketplace to empower customers to enjoy their cryptos in a real-time, secure, and a reliable manner.
Moreover, he adds that joining hands with Google Cloud will let us continue to build a best-in-class, innovative platform that can undoubtedly scale to meet the needs of many users.
Additionally, Kirsten Kliphouse, Google Cloud President of North America, said that they are thrilled to help Bakkt expedite and scale the availability of their innovative solutions, powered by their technologies.