Digital asset marketplace, Bakkt, has linked with Google to extend the reach and usability of digital assets to meet rapidly evolving consumer demand and preferences.
The partnership means that Bakkt users will be able to add their virtual Bakkt Visa Debit Card, Bakkt Card into Google Pay to purchase everyday goods and services online, in-store, or wherever Google Pay is accepted. Digital assets such as bitcoin will be converted to fiat currency for these payments to occur.
“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,” said 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.”
Additionally, Bakkt has selected Google Cloud as a preferred cloud provider and will market its solutions powered by Google Cloud to leading retailers and merchants in the United States.
Bakkt also plans to build new analytics along with artificial intelligence (AI), machine learning (ML), and geolocation functionality on its platform to draw out deep, location-aware business insights leveraging Google Cloud’s industry-leading tools. 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.
“Google Cloud has been at the forefront of accelerating digital commerce, powering many retailers and merchants,” said Kirsten Kliphouse, Google Cloud President of North America. “We are proud to help Bakkt accelerate and scale the availability of their innovative solutions, powered by our technologies.”