Google Pay plans strategy towards cryptocurrencies by partnering with Coinbase and BitPay

Google is reportedly forming partnerships with Coinbase and BitPay to enable new crypto functionality.

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Google is planning a behind-the-scenes strategy involving bitcoin and cryptocurrencies , at a time when its payments division, Google Pay , struggles to gain significant market share in the industry. 

“Cryptocurrency is something we pay a lot of attention to ,” Bill Ready, Google’s president of commerce, said, according to the Bloomberg report . “As user demand and merchant demand evolves, we will evolve with it.” 

The tech giant has formed partnerships with cryptocurrency exchange platform Coinbase and digital currency payment processor BitPay to enable new functionality.

New path for Google Pay

Part of the strategy is that Google plans to offer a “comprehensive digital wallet” that can accommodate everything from digital tickets and airline passes to passports for vaccinations. 

In separate developments, Google has launched a unit focused on “blockchain and other next-generation distributed computing and data storage technologies.”