In new developments, the Google Pay crypto movement could bring Bitcoin, Ethereum and other cryptocurrencies to the platform.
After a series of events, Alphabet Inc.’s Google finally hired former PayPal executive Arnold Goldberg to perform payment operations, form a blockchain technology group, and strategically implement the Google Pay cryptocurrency movement. The company may be looking to introduce cryptocurrencies such as Bitcoin and Ethereum to the Google Pay platform. Rumors grew after Google’s commerce president Bill Lady said, “This move is part of a broader strategy to partner with a wide range of financial services, including cryptocurrencies.”
report According to Bloomberg, this move may be a new direction for Google after binning the Google Plex project in early October 2021. Through GooglePlex, the company planned to build a digital check and savings service. After spending more than a year on the project and involving 11 banking partners, Google finally decided to let go of the project. Now, with new developments, the company seems to be choosing to move towards cryptocurrencies instead.
Cryptocurrency transfer possible with Google Pay
It all started after Google hired Goldberg to handle the Google Pay system. The announcement was made on January 19th. The next day, Google announced that it would form a dedicated group of blockchain technology under Google’s engineering vice president, Shivakumar Venkataraman.Bloomberg report It is based on an internal email that Venkataraman will be the “founding leader” of Labs. Labs is Google’s division that handles virtual reality and augmented reality projects. The collective result of all these developments is expected to pave the way for cryptocurrencies like Google Pay’s Bitcoin and Ethereum.
The movement of Google Pay cryptocurrencies can play an important role. So far, users outside India have been able to trade and buy cryptocurrencies using apps such as PayPal and Coinbase. However, this move adds native support for cryptocurrencies on Android devices, not only makes it easier to manage cryptocurrencies, but also provides users with the very necessary infrastructure stability. This move has the potential to thwart various cryptocurrencies that have emerged in recent years.
It’s not clear whether Google Pay will allow cryptocurrency support on its platform or develop a sister app to enable it, but we can’t deny our interest in cryptocurrencies and blockchain. With speculation on the entry of tech giants into the Bitcoin and Ethereum markets, things are being built for an exciting future.
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