Google Pay will soon be available as a payment option to purchase cryptocurrencies on Android from global cryptocurrency exchange platform Crypto.com. Google Pay is used by more than 100 million people worldwide, offering the cryptocurrency exchange access to a potentially large source of customers.
Users who have linked their Google Pay accounts with a debit or credit card to create the integration will be able choose the payment option on Crypto.com when it goes live next week. The exchange has more than 250 cryptocurrencies that are available to around 50 million users.
Crypto.com has been the subject of a lot of media attention in recent months, as it acquired licenses to operate within a few countries. After receiving regulatory approvals in Greece, Singapore and Italy, the company is now able to serve customers within its borders.
Over the past two decades, the integration of major payment systems into cryptocurrency wallets and exchange platforms has increased in speed. Google Pay, an ex-executive at PayPal, has appointed Arnold Goldberg to lead their payments division. This indicates that Google Pay intends to explore cryptocurrency further.
A busy 2021 for Google Pay, and cryptocurrency in general, saw integration with Gemini last April that offers the same functionality Crypto.com provides. Additionally, in June 2021, Coinbase partnered with Google Pay to allow users to pay for goods or services using their Coinbase Card.
Google Pay also joined forces with Bakkt in October 2021, while Nexo announced Google Pay integration with the launch of its cryptocurrency-backed Mastercard cards in April 2022.