Google Inc. (NASDAQ: GOOG), a multinational technology corporation best known for its suite of internet services, is reportedly making strategic inroads into the crypto space through recent partnerships with Coinbase and BitPay, which will enable new functionalities for Google Pay, the company’s consumer payments division.

According to a Bloomberg story, the IT company has lately struck relationships with Coinbase, a renowned cryptocurrency exchange, and BitPay, a bitcoin payment service provider based in the United States. The first piece looks into Google‘s relationship with the two crypto businesses and then connects it to Arnold Goldberg’s recent appointment as head of Google Pay’s payments and developing market efforts. Goldberg was previously the VP of Merchant Product and Technology at PayPal Holdings Inc.

The decision comes shortly after Google abandoned its banking effort to expand its financial services portfolio, which includes cryptocurrency. This was in line with Google‘s broader aim to increase Google Pay’s custody capabilities for crypto assets on its digital cards, according to Bill Ready, who leads the company’s commerce group. Ready formerly served as the COO of PayPal.

Users will hold Bitcoin and other cryptocurrencies soon by using Google Pay to spend fiat money. Notably, Google Cloud, the company’s cloud services branch, is working with CryptoWire and Dapper Labs simultaneously. Eric Schmidt, the former CEO of Google, is also a strategic advisor to Chainlink Labs, a blockchain infrastructure company that offers open-source oracle solutions.

However, Google has not stated whether these integrations will extend to Google accepting Bitcoin for transactions that do not require a fiat on-ramp. Ready has acknowledged this need and says that the division he runs is trying to increase cooperation options with other crypto organizations so that Google Pay can offer additional crypto-specific features.


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