• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Google on a tablet with a coffee in the background
Nexo Logo

Google Pay Partners With Cryptocurrency Exchanges To Accept Their Digital Cards

Eduardo Próspero by Eduardo Próspero
4 months ago
in Crypto
Reading Time: 3 mins read
Advertisement

Another day, another massive company entering the cryptocurrency space. Google is making moves to boost up the profile of their Google Pay service, and, of course, crypto is in the mix. The company hired Arnold Goldberg, ex-Senior Vice President at PayPal, “to run its payments division.” That’s according to Bloomberg, who broke the story. 

“The move is part of a broader strategy to team up with a wider range of financial services, including cryptocurrencies, said Bill Ready, Google’s president of commerce. The business, known for the Google Pay system and mobile wallet, has largely avoided the crypto industry.”

Related Reading | Bitcoin Still Overtook Trump, VISA, PayPal, and Libra on Google Search in 2019

Until now, that is. The company is cautiously entering the cryptocurrency space and NewsBTC is here to tell you what you should know about it.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Google’s Many Failures

The company’s financial division hasn’t been the most successful. Their Google Pay service is far behind its competitors, and facing a crowded space with many players trying to get ahead. Recently, Alphabet Inc. partnered with 11 banks for an initiative called Plex, and canceled everything at the last second. “We’re not a bank — we have no intention of being a bank,” said the company’s president of commerce Bill Ready in a recent interview.

On the other hand, the company has a lot going for it: 

“Google does have enormous consumer reach and a huge balance sheet. The technology giant takes no fees on transactions with its mobile wallet, and Ready said there are no plans to change that.”

GOOGL price chart for 01/19/2022 - TradingView

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!
Alphabet Inc. price chart on Nasdaq | Source: TradingView.com

What Will The Company’s Crypto Play Consist Of?

Let’s be clear about this, the technology giant is only testing the waters. They haven’t announced anything crazy, nor are they developing technology themselves. Still, it’s a great improvement from their “largely avoided the crypto industry” policy. What are they doing, exactly?

“Google has partnered with companies, including Coinbase Global Inc. and BitPay Inc., to store crypto assets in digital cards, while still having users pay in traditional currencies. Ready said Google is looking to do more of these partnership, though the company still isn’t accepting crypto for transactions.”

Since that’s a little vague, Yahoo! Finance elaborates on the matter:

“Late last year crypto platform Bakkt said its virtual Visa debit card would be available for use on Google Pay online and in stores. Bakkt’s Google Pay support follows in the footsteps of Coinbase, which rolled out support for Apple Pay and Google Pay for its Coinbase Cards earlier this year. Google is also working with Bitpay and Gemini to support their crypto cards, meaning that people who use these cards can add them to Google Pay.”

To further emphasize the lightness of the company’s crypto play, Bill Ready told Bloomberg:

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

How Did The Market React To Google ‘s Announcement?

As soon as the article went live and the news started spreading through the Internet, both Bitcoin and Ethereum’s prices spiked for a little while. Then, as people read exactly what Google announced, the excitement wore off. The two leading cryptocurrencies have been trading horizontally, lightly trending downwards for a while. And this announcement wasn’t strong enough to change that.

Related Reading | Coinbase Adds Option To Buy Crypto With Apple Pay, Google Pay To Follow

Maybe it should’ve been, though.

Featured Image by PhotoMIX-Company on Pixabay | Charts by TradingView
Tags: Alphabet Inc.Arnold GoldbergbakktBill ReadybitpaycoinbaseCoinbase CardsGeminigoogleGoogle PaypaypalPlex
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Eduardo Próspero

Eduardo Próspero

Eduardo Prospero is an author, a content writer, and a professional rapper. A Bitcoin maximalist in disguise. Working on a Bitcoin book. Venezuelan. He wrote a novel, but it's only available in Spanish. It's called "La Tormenta."

Related Posts

total crypto luna bitcoin

LUNA Aftermath: Total Crypto Market More Oversold Than Black Thursday

1 day ago
Crypto Analyst Predicts 1 Altcoin Will Fall Down Hard – Is It Cardano?

Crypto Analyst Predicts 1 Altcoin Will Fall Down Hard – Is It Cardano?

4 days ago
Bitcoin

Crypto Shorts See $240M Flush As Bitcoin Rebounds Back Above $30k

6 days ago
Charles Hoskinson comments on cryptowinter

How Long Will The CryptoWinter Last? Cardano Founder Provides Answers

7 days ago
bitcoin liquidations

Crypto Liquidations Reach $1 Billion As Sentiment Falls To 10-Month Lows

1 week ago
Liquid

Over 110,000 Traders Rekt As Crypto Market Sees $120B Shaved Off

2 weeks ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Wildcoins Casino

Wildcoins Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Can Gnox (GNOX) become a crypto giant like Cardano (ADA)?

May 19, 2022

Terra (LUNA) and Binance (BNB) Experienced a Terrible Week While Presale Crypto Chronoly (CRNO) Is Flying High

May 19, 2022

3 Years, 6 Lamborghinis: FreeBitco.in’s “Biggest Giveaway in Crypto” Continues Its Legacy

May 19, 2022

SFUND To Be Listed On The Leading Global Crypto Exchange Huobi Global

May 19, 2022

Diversify your crypto portfolio with Pac-Man Frog (PAC), Monero (XMR), and Aave (AAVE)

May 19, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Spin & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.