Bakkt cardholders can spend bitcoin via Google Pay

Bakkt, a regulated platform for trading bitcoin derivatives, has agreed with Google to add a virtual debit card to the internet giant’s payment system.

The collaboration will ‘expand the reach and ease of use of digital assets to meet the needs of millions of users’.

The card can be used to pay for purchases online and in offline stores that support Google Pay. When a payment is made, the cryptocurrency is converted into fiat.

The agreement also envisages use of Bakkt’s Google Cloud services and their promotion among consumers and merchants in the United States.

Based on these tools, the platform will add new analytical capabilities using geolocation, artificial intelligence, and machine learning. Bakkt’s partners will gain more valuable consumer models, and customers will receive expanded loyalty programs.

Earlier, the platform launched a Visa virtual debit card for paying with bitcoin in June.

Earlier, Bakkt introduced an app that allows storing, buying and selling the first cryptocurrency.

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