Google Considering Letting Users Store Bitcoin and Crypto in Digital Cards.

Users of Google‘s digital cards may soon be able to hold bitcoin and spend currency. To implement the feature, the business has created agreements with Coinbase and BitPay. It is unknown when Google will begin accepting bitcoin for transactions.

According to Bloomberg, the tech giant is treading lightly into cryptocurrency as the company’s payments business tries to capture major market share in the payments sector and advertises adding custodial capabilities of such assets to its digital cards.

Bill Ready, Google’s president of commerce said:

“Crypto is something we pay a lot of attention to. As user demand and merchant demand evolves, we’ll evolve with it.”

To provide the new capabilities, the company has created agreements with bitcoin exchange Coinbase Inc. and cryptocurrency payment processor BitPay. The executive’s team is searching for further cooperation prospects, despite the fact that the firm is still not accepting bitcoin for transactions.

Google’s cryptocurrency integrations enable consumers to store BTC in their digital cards while spending fiat cash, a setup that does not employ the peer-to-peer asset as a means of exchange but allows users to spend their bitcoin holdings.

Given Bitcoin’s meteoric gain in purchasing power over the last decade, it’s difficult to imagine Bitcoiners wanting to sell a portion of their BTC stack as the opportunity cost to keep it and spend fiat cash directly grows.

The announcement comes after the business abandoned a previous effort into banking in October, appointing former PayPal CEO Arnold Goldberg to manage its payments segment. Google, according to Ready, aspires to be a “connective tissue” for the whole consumer finance market.

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Patrick

Coincu News