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October 11, 2021

Bakkt and Google team up to improve access to digital assets

By Shalini mani

Digital asset marketplace Bakkt has forged an alliance with Google to allow consumers to pay for everyday purchases using cryptocurrencies.

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The partnership will enable Bakkt users to add their virtual Bakkt Visa Debit Card into Google Pay to pay for goods and services using cryptocurrencies.

For the payments to happen, the cryptocurrencies will be automatically converted to fiat currencies.

Bakkt users can make purchases both online and offline wherever Google Pay is accepted.

Additionally, Bakkt signed Google Cloud as a preferred cloud provider. The firm plans to market its solutions enabled by Google Cloud to US-based retailers and merchants.

Bakkt CEO Gavin Michael said: “This partnership is a testament to Bakkt’s strong position in the digital asset marketplace, to empower consumers to enjoy their digital assets in a real-time, secure, reliable manner.

“Additionally, partnering with Google Cloud will enable us to continue to build a best-in-class, innovative platform that can undoubtedly scale to meet the needs of millions of users.”

Bakkt is planning to develop new analytics on its platform using tools offered by Google Cloud to offer location-aware business insights.

These insights will provide Bakkt partners with consumer behaviour patterns facilitated by Google Cloud infrastructure.

In addition, it will offer expanded loyalty redemption options to Bakkt consumers.

Commenting on the development, Google Cloud president of North America Kirsten Kliphouse said: “Google Cloud has been at the forefront of accelerating digital commerce, powering many retailers and merchants.

“We are proud to help Bakkt accelerate and scale the availability of their innovative solutions, powered by our technologies.”

Bakkt was founded in 2018 as a clearing platform for digital assets by stock exchange operator Intercontinental Exchange.

In 2019, it obtained a licence from the New York State Department of Financial Services to offer custody services for Bitcoin and launch physically delivered Bitcoin futures contracts.

Free Whitepaper
img

Never Trust, Always Verify: Is Zero Trust the Next Big Thing in Cybersecurity?

Cyberattacks continue to rise every year and no sector seems to be immune. Hackers target sensitive information such as organizational, client, and financial data, as well as intellectual property (IP) and proprietary functions. As digital transformation becomes a top priority for many organizations, traditional perimeter-based security models are no longer sufficient to address the growing cybersecurity concerns. Against the backdrop, enterprises explore zero trust as it takes a micro-level approach to authenticate and approve access at every point within a network. Reasons to read: The cybersecurity landscape is swiftly changing, and businesses need more awareness to meet the evolving change. The report highlights the current state of play and the future potential of the zero trust approach in cybersecurity to protect critical digital infrastructure of enterprises across sectors such as financial services, healthcare, telecom, and transportation, among others. Read our report and gather insights on the following topics:
  • Traditional vs zero trust protection
  • Key advantages and solution providers
  • Major industries and key players
  • Drivers and challenges
  • Top funded startups and Mergers & Acquisitions
  • Implementation challenges
by GlobalData
Enter your details here to receive your free Whitepaper.

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