Reports suggest that Google will soon allow store Bitcoin and crypto in digital cards. With these cards, users will be able to hold their Bitcoin and spend it as normal fiat currency when required. To enable this feature, Google has partnered up with Coinbase and Bitpay. Coinbase is the largest crypto exchange in the United States, and Bitpay is one of the biggest crypto payment service providers working with a lot of other major companies. It will be interesting to see how long does Google takes before enabling this feature.
Google gets into crypto
With the option to store crypto in one’s digital cards of Google, the company will finally enter the crypto space properly. We might even see them start accepting Bitcoin soon enough, and this will help in further adoption of the cryptocurrency. It will be beneficial for the company as well, as their payment division hasn’t been doing particularly well per se. Lacking a significant market share is the reason that Google is trying to experiment with digital assets that can help them gain some attraction.
In fact, the company’s president of commerce, Bill Ready, said something along the same lines that are “Crypto is something we pay a lot of attention to.” So, with the rising demand from users and merchants, they will evolve as well. The way that Google is dealing with the payments in their cards, they won’t transfer Bitcoin to merchants. And therefore, it is not necessarily a proper crypto transaction. One can rather say that Google’s card will save an extra step of converting crypto to fiat for users to spend.
Google doesn’t want to be a bank
The company has no intention of becoming a bank said, Bill. They are just working on their payment division, and for the same, Google has also hired former PayPal executive Arnold Goldberg. Since Arnold has got a lot of experience in the payment industry, we can expect quite a lot from him. And google can also benefit from this and finally gain a quantifiable market share.
Are you excited about using Google’s digital cards to store Bitcoin and crypto in digital cards? And will this option be handy for you? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also Read: BitMEX crypto exchange acquires 268-year-old German bank.
