Google has so far maintained a marked distance from the cryptocurrency sector. But that could change. The giant has confirmed that it wants to explore new areas of payments, including the storage of crypto-assets. Update on what we know so far.
Google opens up to cryptocurrencies?
Google recently hired Arnold Goldberg, a former PayPal executive, to take charge of its payment methods division. This is an area where the Google steamroller has yet to really gain a foothold: the success of Google Pay has indeed been mixed . But the company intends to change that, by opening up to new services.
According to a Bloomberg report , the company’s new strategy would include exploration of cryptocurrencies , and crypto cards in particular. According to Bill Ready, President of Commerce at Google:
“ Cryptos are something we watch very carefully. As user and merchant demands evolve, we will evolve with them . »
First initiatives at Google
So far, Google’s initiatives in this direction have been rather timid. There was indeed the integration of the Coinbase Card on Google Pay , in 2020, followed by other integrations (including crypto-cards from Bakkt, as well as those from BitPay). But nothing more had filtered in terms of crypto-assets .
For the moment, Google still does not plan to directly accept cryptocurrency transactions, but the company is gradually approaching the sector. The giant confirms that it sees some potential in crypto-cards, and it also wants to expand the reach of its wallet . Storing cryptocurrencies on Google Pay could therefore be a major step for the company.
The arrival of a former PayPal at Google is in any case not a coincidence. The payment service had enabled the purchase of Bitcoin (BTC) and other cryptocurrencies in 2020, and the success had been considerable. So it makes sense that Google would want to explore this area.
