Bakkt, Google use cryptocurrency for real-time payments

Monday 11 October 2021 15:14 CET | News

Google and US-based crypto marketplace Bakkt have entered into a partnership to link Visa debit cards to Google Pay and enable crypto transactions.

As part of this agreement, nearly 10 million Bakkt users will be able to link their virtual Visa debit cards with Google Pay and purchase goods and services online, using cryptocurrencies like Bitcoin. Once the Bakkt cards are linked to Google's payment services, cryptocurrencies will get converted into the government-backed fiat currency seamlessly whenever making payments.

Earlier in 2021, Bakkt released its own Visa Debit Card to enable crypto-based transactions for its users. With this card's integration with Google Pay, when a Bakkt user pays for something via cryptocurrency, the monetary value associated with the good or service will be converted into fiat for the transaction.

As part of the partnership, Bakkt will also be using the Google Cloud as its could services provider to wire its services to crypto-associated retailers and merchants around the US.

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Keywords: Google Pay, partnership, Visa, cryptocurrency
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: United States
This article is part of category

Blockchain & Cryptocurrencies