Bakkt, an online marketplace for digital assets, has partnered with Google to leverage digital assets to meet rapidly evolving consumer demands and preferences via an extended reach and usability. Users of Bakkt’s virtual Visa Debit Card will now be able to use Google Pay to pay for items such as groceries and goods online, in stores, or anywhere Google Pay is accepted. This payment will be made by converting digital assets such as bitcoins to fiat currency.
Gavin Michael, Bakkt CEO, said, “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. 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.”
Bakkt has also chosen Google Cloud as the preferred cloud provider for its solutions and will market Google Cloud in the U.S. to leading retailers and merchants.
Additionally, Bakkt intends to leverage Google Cloud’s industry-leading tools to build new analytics and AI, ML, and geolocation capabilities onto its platform to glean deep, location-aware business insights. Consumers of Bakkt will be able to redeem rewards in new ways, while Bakkt’s partners will gain valuable insight into consumer behavior through Google’s cloud infrastructure.
Kirsten Kliphouse, Google Cloud President of North America, said, “Google Cloud has been at the forefront of accelerating digital commerce, powering many retailers and merchants. We are proud to help Bakkt accelerate and scale the availability of their innovative solutions, powered by our technologies.”