Corporate Finance News / Quotidien

Mardi 12 Octobre 2021

Google partners with digital asset firm Bakkt to make crypto payments more accessible

Digital asset company Bakkt announced a partnership with Tech giant Google on Friday.

This project “is to extend the reach and usability of digital assets to meet rapidly evolving consumer demand and preferences.” The partnership will introduce digital assets to millions of consumers. And also make payments more accessible.

Intercontinental Exchange, the owner of the New York Stock Exchange, founded Bakkt in 2018. The digital assets marketplace enables consumers to buy, sell, send and spend digital assets, including cryptocurrencies.

This partnership will enable Bakkt users to add their virtual Bakkt Visa Debit Card (“Bakkt Card”) into Google Pay. Subsequently, the users will be able to purchase goods and services anywhere that accepts Google Pay. Digital assets, like Bitcoin, in the users’ wallets, will be converted to fiat currency for these payments to occur.

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