Web 2 behemoth, Google, has revealed that it has a keen interest in the unfolding web 3 experience by trying to get more crypto users to hold cryptocurrencies on its digital wallet, Google Pay.
According to Bloomberg, Google has so far formed partnerships with crypto firms Coinbase, Bakkt whereby users who hold crypto in those firms can link their crypto debit cards with Google Pay – allowing them to make payments across the web and in stores. However, the transactions are done in fist through a partnership with payment processor BitPay.
Now, a senior executive at the company said the organization was seeking to support more crypto cards. Some of the firms targeted include Bitpay and Gemini.
Speaking about company’s interest in the crypto space, Bill Ready, Google President of Commerce, said:
“Crypto is something we pay a lot of attention to — as user demand and merchant demand evolves, we’ll evolve with it.” – President of Commerce, Google
According to Mr. Ready, the company wants to be a ‘connective tissue’ for the entire payments industry, a vision that has seen it hire former PayPal executive, Arnold Goldberg, to run its payments division.
Hiring Mr. Goldberg is part of a broader strategy for the company to incorporate a wider range of financial services, including cryptocurrencies – something that it has always seemingly avoided.