Google develops its cards for Bitcoin (BTC)
The charm of crypto assets seems to be increasingly luring giant companies although currently the price of assets is still largely hit by a severe correction as of mid-November.
Google to dive into crypto assets
Based on a report from Bloomberg, Wednesday (19/01/2022), a subsidiary of Alphabet Inc. It has appointed former PayPal executive Arnold Goldberg to lead its payments division.
After undoing the push into banking, Google's payment service will expand into broader financial services, including to cryptocurrencies.
Google's President of Commerce Bill Ready also revealed that cryptocurrencies have long been under their watch.
Seeing the widespread interest in cryptocurrencies, Bill also revealed that the company will start a revolution in that direction.
Because of its expanded goals and targets, Google wants to be a connecting network for the entire consumer finance industry, not for specific partners just like their original plan.
"We are not a bank – we don't intend to be a bank. Some past efforts, sometimes, will unwittingly go into those spaces," Ready said.
Getting More Intense
Of course, this step is a step that is arguably, increasingly intense, to dive into the crypto industry of companies like Google.
In August 2021, a few months after its integration with Apple Pay, BitPay Mastercards also appeared on Google Pay, a payment service from Google.
And two months later, Bakkt announced that its debit cardholders would be able to use it together with Google Pay to buy goods and services with Bitcoin.
This is a way that will make it easier for people to exchange the US dollars they have into Bitcoin (BTC).
Although Bill currently states that Google is not ready for crypto transactions, the slow pace under construction has been judged to be more than enough as an attractive adoption to the crypto industry.
While still in PayPal, Goldberg has made it possible to purchase cryptocurrencies such as Bitcoin and Ether (ETH) on his platform. It is expected that Google will eventually provide similar services in one of its business lines. Let's watch.
Google develops its cards for Bitcoin (BTC)
After appointing former PayPal Executive Bill Ready, Google appears to be continuing to take aim at Bitcoin (BTC) into its financial services.
Previously it was known that the technology and information giant began to get more serious about diving into cryptocurrencies, where the latest is, Google card (Google Card) will be able to store crypto assets.
Google Cards Can Store Bitcoin
Once its payments division has a new leader, Bill Ready, Google is increasingly ready to enliven the crypto industry with its services.
Currently, the division is struggling to gain market share by adding crypto asset storage functions to their card product, Google Card.
Revolutionizing the way businesses and services run, Ready has been aiming for cryptocurrencies since its inception, even while still occupying its position in PayPal.
With his new position, he is bringing the spirit of crypto to Google because the industry still looks very potential in the long run. Everyone started glancing and liking crypto.
Google has also partnered with Coinbase and crypto payment processor BitPay to activate the new functionality.
Bill revealed that his team is currently still looking for additional partnership opportunities, although the company still hasn't accepted Bitcoin for transactions.
Later, the ability to store crypto assets on Google Card will allow customers to spend their crypto holdings. This will coincide with fiat money that can also be deposited on the card.
Is it worth it to be a means of payment?
Although the current price is still fairly volatile for Bitcoin, the possibility to be used as a means of payment still gets the views of the pros and cons of observers.
In fact, Tesla CEO, Elon Musk, is of the view that Dogecoin (DOGE) is still better to be used as a means of payment than Bitcoin.
The meme token it values has a faster processing time and at a lower cost.
Besides Elon, other views on DOGE are also quite interesting because for most people, Bitcoin is a mode of investment. It's hard to take them off because they buy to keep in the long run.
As for DOGE, one considers this just an ordinary token, there is no excessive view of it. However, this actually makes people more "light" to remove DOGE as a means of payment, instead of storing it in the long term.
