Bakkt exchange, backed by the parent company of the New York Stock Exchange (NYSE), will collaborate with Google. Among other things, users will be able to spend cryptocurrencies with the Bakkt crypto-card via Google Pay.
Bakkt exchange partners with Google
Exchange platform Bakkt announced Friday that it has partnered with Google to make cryptocurrencies accessible “to millions of consumers.”
Bakkt was launched in 2018 by Intercontinental Exchange Inc, the parent company of the New York Stock Exchange (NYSE). The platform allows individuals and especially institutions to buy, sell and store cryptocurrencies. The project already brings together several large companies and big names in private equity such as Fortress Group and Susquehanna.
In practice this partnership will allow users to spend cryptocurrencies with the Bakkt crypto-card directly from Google Pay. This will allow customers to make cryptocurrency payments anywhere Google Pay is accepted.
Gavin Michael, CEO of Bakkt, sees the recent partnership as representative of his company’s success:
“This partnership is a testament to Bakkt’s position in the cryptocurrency market, which allows consumers to enjoy their cryptos in real time, securely and reliably. In addition, the partnership with Google Cloud will allow us to continue to build a leading innovative platform.
Indeed, Bakkt also said that it has chosen Google Cloud as its preferred provider. Bakkt also plans to use Google Cloud to develop new analytics, artificial intelligence (AI), machine learning (ML) and geolocation capabilities on its platform.
Bakkt multiplies its initiatives
The recent partnership is just one of many attempts by Bakkt to expand cryptocurrency use cases in the United States. In August, the company partnered with Quiznos to launch a bitcoin (BTC) payment pilot at several Quiznos fast food restaurants in Denver.
The organization also collaborated with Starbucks after the launch of its app in April. Since then, customers have been able to reload their Starbucks cards using the app.
Not to be outdone, Google Cloud recently lent its support to Dapper Labs, the company behind the popular NBA Top Shot non-fungible token (NFT) project.