Google Pay users are given another avenue to cryptocurrency markets as Crypto.com integrates its payment functionality for purchases.
Global cryptocurrency wallet and exchange platform Crypto.com added Google Pay as a payment option for Android users to buy cryptocurrencies on July 21. Google Pay is estimated to have over 100 million users that could make use of the latest payment gateway to cryptocurrency markets.
Users that have set up their Google Pay accounts to be linked with a credit or debit card will be able to choose the payment option when on the Crypto.com app. The exchange lists over 250 cryptocurrencies accessible to some 50 million users it serves around the world.
Crypto.com has been in the headlines in recent months as the company acquired licenses to operate in a handful of countries in quick succession. Italy was the latest country to give the firm the green light to begin serving customers within its borders, following regulatory approval in Greece, Singapore and Dubai.
The integration of major payment systems into cryptocurrency wallet and exchange platforms has picked up pace over the past two years. Google Pay indicated its intent further explore the cryptocurrency space in January 2022 with the appointment of former PayPal executive Arnold Goldberg to head up their payments division.
This came after an eventful 2021 for Google Pay and the cryptocurrency space, which saw integration with Gemini in April to offer the same functionality Crypto.com has now introduced. A partnership with Coinbase in June 2021 allowed users to pay for goods and services through Google Pay using their Coinbase Card.
Google Pay also joined forces with Bakkt in October 2021, while Nexo also announced Google Pay integration with the launch of its cryptocurrency-backed Mastercard cards in April 2022.