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Bakkt debit cardholders can now spend their Bitcoin at participating merchants using Google Pay.
Bakkt, a cryptocurrency platform, announced today that it has integrated Google Pay, giving its users another way to spend their Bitcoin on everyday items.
The announcement said that with the Bakkt Visa debit card, customers could via Google Pay turn their cryptocurrency into fiat currency—like dollars—at accepting merchants.
Bakkt started out as a cryptocurrency custodian. The Intercontinental Exchange (parent company of the New York Stock Exchange) launched it in 2018 and offers a Bitcoin futures trading service.
Among its other offerings is a mobile wallet app that allows users to store, buy, and sell Bitcoin. Users can use the app to accumulate rewards, send Bitcoin to friends, and purchase discounted gift cards. In 2019, it partnered with Starbucks to allow customers to pay for coffee using the market’s leading cryptocurrency.
But the announcement today was regarding its Visa debit card, which launched in June. Now, those holding the Bakkt card can spend their Bitcoin at whichever outlets that accept Google Pay.
Google Pay is an app on Android phones that lets users make contactless payments. It is accepted by millions of merchants around the world.
“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,” Bakkt’s CEO Gavin Michael, said in a release.
Bakkt also said it would use the Google Cloud to build new analytics with artificial intelligence, machine learning, and geolocation functionality.
“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,” said Michael.