According to reports, Google will soon allow users to store Bitcoin and other cryptocurrencies in digital cards. Users will be able to keep their Bitcoin on these cards and spend it as normal fiat currency when needed.
Google has teamed up with Coinbase and Bitpay to make this capability possible. Coinbase is the largest cryptocurrency exchange in the United States, while Bitpay is one of the top cryptocurrency payment service providers, having partnerships with a number of prominent corporations. It will be fascinating to watch how long Google takes to make this functionality available.
Google will finally join the crypto world fully with the opportunity to hold bitcoin in one’s digital cards. We may even see them take Bitcoin in the near future, which will aid in the cryptocurrency’s adoption.
It will also benefit the corporation, as their payment section has not been performing exceptionally well. Because it lacks a major market share, Google is experimenting with digital assets in the hopes of gaining some momentum.
In fact, Bill Ready, the company’s president of commerce, stated something similar: “Crypto is something we pay a lot of attention to.” As a result of the growing demand from consumers and merchants, they will also adapt.
Google will not send Bitcoin to retailers because of the way they handle payments on their cards. As a result, it isn’t always a true crypto transaction. Google’s card, on the other hand, will eliminate the additional step of converting crypto to fiat before customers can use it.
Google Hired Former PayPal’s Board Memeber
After earlier withdrawing from a push into banking, the business has hired Arnold Goldberg, a former PayPal (PYPL) – Get PayPal Holdings, Inc. Report executive, to lead its payments section.
“We pay a lot of attention to cryptocurrency,” Ready added. “We’ll develop with it as user and merchant demand evolves,” Ready added.
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