Bakkt, a digital asset marketplace that enables consumers to purchase, sell, send and spend cryptocurrencies, has formed a partnership with Google (NASDAQ: GOOGL) in order to extend the reach and usability of virtual currencies to meet growing consumer demand and preferences.
As mentioned in a release, Bakkt users may add their virtual Bakkt Visa Debit Card into Google Pay to buy goods and services online, in-store, or wherever Google Pay might be accepted. Crypto-assets like Bitcoin (BTC) will get converted to fiat currency for these transactions to take place.
Bakkt has also chosen Google Cloud as a Cloud provider and will “market its solutions powered by Google Cloud to leading retailers and merchants in the United States.”
Bakkt also intends to develop new analytics along with AI, machine learning, and geolocation functionality on its platform “to draw out deep, location-aware business insights leveraging Google Cloud’s industry-leading tools.” The announcement further noted that these insights will “provide Bakkt consumers with expanded loyalty redemption options while providing Bakkt partners with valuable consumer behavior patterns powered by Google Cloud infrastructure.”
“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,” stated Gavin Michael, Bakkt CEO.
“Additionally, partnering with Google Cloud will enable us to continue to build a best-in-class, innovative platform that can undoubtedly scale to meet the needs of millions of users.”
“Google Cloud has been at the forefront of accelerating digital commerce, powering many retailers and merchants,” added Kirsten Kliphouse, Google Cloud President of North America.
Kirsten also mentioned:
“We are proud to help Bakkt accelerate and scale the availability of their innovative solutions, powered by our technologies.”
In order download the Bakkt App, you may visit the Google Play Store and the Apple App Store.
As noted in a release, Bakkt’s retail platform, currently available via the Bakkt App, “amplifies consumer spending and bolsters loyalty programs, adding value for all key stakeholders within the Bakkt payments and digital assets ecosystem.” Established in 2018 by Intercontinental Exchange, Inc., Bakkt is based in Alpharetta.
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