The corporation said that they plan to expand the scope of cooperation with projects from the crypto asset industry
Google intends to offer the possibility of storing cryptocurrencies on digital cards, while payments will continue to be made in fiat currency.
Bill Ready, president of Google commercial activities, said in an interview with Bloomberg that the corporation plans to expand cooperation with representatives of the crypto industry.
At the moment, the company has partnerships with the Coinbase crypto exchange and the BitPay processing service. The company has shied away from the crypto asset space in the past, but now it is focusing heavily on cryptocurrencies, Ready said.
Google plans to make Google Pay an “all-encompassing digital wallet” with support for digital tickets and vaccination passports. The corporation is also preparing to integrate payment options into search results. Among other things, the search engine will show personal customer loyalty cards and discounts for relevant queries.
In August last year, Google lifted a US ban on advertising for cryptocurrency exchanges and wallets. Since then, services have been able to promote their services through the search engine again. Since June 2018, advertising of crypto assets and related content has been banned on Google services.
In the fall, Google entered into a partnership with the Bakkt crypto platform. Bakkt users can add their virtual cryptocurrency cards to the Google Pay payment system and make payments for goods and services in cryptocurrency. When paying, the cryptocurrency will be converted to fiat.
