Google will offer the ability to store cryptocurrency on digital cards
The corporation said it plans to expand the scope of cooperation with projects from the digital asset industry
Google intends to offer the possibility of storing cryptocurrency on digital cards, while payments will still be made in fiat currency. Google president of commerce Bill Rady told Bloomberg in an interview that the corporation plans to expand cooperation with representatives of the crypto-industry.
At the moment, the company has partnerships with cryptocurrency exchange Coinbase and processing service Bitpay. In the past, the company avoided interacting with digital assets, but now it is paying significant attention to cryptocurrencies, Rady said.
Google plans to make Google Pay a "comprehensive digital wallet" with support for digital tickets and vaccination passports. The corporation is also preparing to integrate payment capabilities into its search engine. Among other things, the search engine will show personal customer loyalty cards and discounts for relevant queries.
Last August, Google lifted a ban in the U.S. to advertise cryptocurrency exchanges and wallets. Since then, services can again promote their services through the search engine. Since June 2018, advertising of digital assets and related content has been banned in Google services.
In the fall, Google partnered with cryptoplatform Bakkt. Bakkt users can add their virtual cryptocurrency cards to Google Pay and make payments for goods and services in cryptocurrency. The cryptocurrency will be converted to fiat when they pay.
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