{"id":11901,"date":"2022-01-19T18:12:02","date_gmt":"2022-01-19T18:12:02","guid":{"rendered":"http:\/\/ci0297b0f6e00025ef"},"modified":"2022-01-19T18:12:02","modified_gmt":"2022-01-19T18:12:02","slug":"google-cards-to-store-bitcoin-and-crypto-report","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/business\/google-cards-to-store-bitcoin-and-crypto-report","title":{"rendered":"Google Cards To Store Bitcoin And Crypto: Report"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><ul>\n<li>Google\u2019s digital cards might soon enable users to hold bitcoin and spend fiat.<\/li>\n<li>The company has formed partnerships with Coinbase and BitPay to enable the functionality.<\/li>\n<li>It is still unclear when Google would start accepting bitcoin for transactions.<\/li>\n<\/ul>\n<p>Google is tiptoeing into Bitcoin and cryptocurrencies as the company\u2019s payments division struggles to gain significant market share in the payments industry and touts adding custody capabilities of such assets to its digital cards, according to a report by <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-19\/google-hires-paypal-vet-to-reset-strategy-after-banking-retreat\" target=\"_blank\" rel=\"noopener\"><em>Bloomberg<\/em><\/a>.<\/p>\n<p>\u201cCrypto is something we pay a lot of attention to,\u201d said Bill Ready, Google\u2019s president of commerce, per the report. \u201cAs user demand and merchant demand evolves, we\u2019ll evolve with it.\u201d<\/p>\n<p>According to the report, Google has formed partnerships with cryptocurrency exchange Coinbase Inc. and cryptocurrency payment processor BitPay to enable the new functionality. The executive told <em>Bloomberg<\/em> that his team is looking for additional partnership opportunities, though the company still isn&#8217;t accepting bitcoin for transactions.<\/p>\n<p>Google\u2019s cryptocurrency integrations allow its customers to hold BTC in their digital cards while spending fiat currency, an arrangement that doesn\u2019t precisely use the peer-to-peer asset as a medium of exchange but enables users to spend their bitcoin holdings.<\/p>\n<p>Given Bitcoin\u2019s astronomical rise in purchasing power over the past decade, it is hard to conceive a scenario where Bitcoiners would want to get rid of part of their BTC stack, as the opportunity cost to hold it and spend fiat currency directly instead rises.<\/p>\n<p>The news comes after the company <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-10-01\/google-shelves-plans-for-bank-accounts-in-revamped-pay-app\" target=\"_blank\" rel=\"noopener\">in October<\/a> turned its back on a previous push into banking, hiring former PayPal executive Arnold Goldberg to run its payments division. According to Ready, Google wants to become a \u201cconnective tissue\u201d for the entire consumer finance industry.<\/p>\n<p>\u201cWe\u2019re not a bank&nbsp;<em>\u2014<\/em>&nbsp;we have no intention of being a bank,\u201d Ready told <em>Bloomberg<\/em>. \u201cSome past efforts, at times, would unwittingly wade into those spaces.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company has reportedly formed partnerships with Coinbase and BitPay to enable the new functionality.<\/p>\n","protected":false},"author":2572,"featured_media":11902,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[1602,80,999,93,777],"class_list":{"0":"post-11901","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-cards","9":"tag-crypto","10":"tag-google","11":"tag-news","12":"tag-report"},"author_data":{"id":2572,"name":"Namcios","nicename":"namcios","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/pfp-96x96.png"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/google-building-scaled-1.png","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/11901","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/2572"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=11901"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/11901\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/11902"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=11901"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=11901"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=11901"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}