Google Treading Carefully Into The Realm Of Bitcoin And Cryptocurrencies
Google is treading carefully into the realm of Bitcoin (BTC) and cryptocurrencies as the organization&39s payments division tries to achieve a major market share in the payments sector alongside the promotion of custody capabilities for such assets to its respective digital cards.
"We pay a lot of attention to cryptocurrencies," said Bill Ready, Google&39s Head of Commerce. "The company will therefore have to evolve in tandem with user and merchant demand so as to keep up to date with a changing world and economy."
Moreover, in order to successfully provide the new functionality, Google has formed agreements with both Coinbase Inc. and BitPay. However, it must be mentioned that the company will still refrain from accepting BTC for various transactions for the foreseeable future.
In related news, Google has also recently appointed former PayPal CEO Arnold Goldberg to lead its payments division as part of a larger push to offer a wide variety of different financial services, which reportedly includes crypto as well.
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