Google has partnered with Bakkt, a US-based digital assets platform, to introduce millions of consumers to digital assets. Bakkt announced on Twitter that its collaboration with Google would enable the tech giant to extend the reach and usability of digital assets to meet rapidly evolving consumer demand and preferences.
Bakkt is a trusted digital asset marketplace that facilitates consumers to buy, sell and spend digital assets. It was launched in 2018 by Intercontinental Exchange. Bakkt’s parent company also happens to be the parent company of the New York Stock Exchange.
Bakkt users who hold debit cards will now convert their crypto balances to make fiat payments via Google Pay.
Moreover, Bakkt plans to build new analytics and geolocation functionality on its platform using Google Cloud Tools. The mutual relationship ensures that the features will expand loyalty redemption options. All the “while providing Bakkt partners with valuable consumer behaviour patterns.”
“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.”Gavin Michael, Bakkt CEO
The partnership is proving to be very vital in the crypto space. As it gives the cryptocurrencies the exposure, it needs to thrive. According to Google, millions of retailers currently accept Google Pay as a form of payment. This potentially gives Bakkt users the ability to pay in crypto at “supermarkets, pharmacies, restaurants, gas stations”, and others.
Google Cloud President of North America, Kristen Kliphouse, said that Google cloud is delighted to provide its technology services to Bakkt. That will boost up the availability of their innovative solutions.