London, Europe Brief News – News is around the corner that Google intends to enter the bitcoin custody business. According to the company’s transactions section, users will be able to hold bitcoins on their digital cards. They will have complete access to spend the fiat cash. They can utilize it in the way they desire.
According to Google, customers will be able to keep Bitcoin on their smart cards while spending fiat cash. Bitcoin is not utilized as a means of trade in this case; instead, it is transformed into fiat cash and used on desirable goods.
Hiring implies a change
Google, as per the source has unveiled two new features in this area to help the company in the process. The first was the development of a collaboration with Coinbase, a crypto exchange, and BitPay, a cryptocurrency payment system. Both will assist the search engines in implementing the new feature.
According to Bloomberg, the official’s team is exploring new cooperation options. Arnold Goldberg, a former PayPal administrator, was also hired by the organization. Goldberg will take over as the transactions division’s new leader.
The modifications might imply that Google does not like to be abandoned because PayPal just added bitcoin transactions to its system. However, the organization will not embrace cryptocurrency as a means of payment for its operations. It does not want a relationship.
Seeing Bitcoin’s worth
Google’s head of commerce, Bill Ready says the business is working to adapt and deliver additional service alternatives to its consumers. Cryptocurrencies are on the company’s screen as a potential breakthrough.
“Cryptocurrencies are something we are quite interested in.” “As user and retailer demand evolves, we will change as well,” Ready added.
Considering the massive rise in BTC purchasing power over the previous few years, it is impossible to see consumers wanting to use their bitcoins as the potential cost of keeping it and spending fiat money directly rises.
However, this cost may be incurred in the future, and Google wants to put systems in place to make this process easier for users. On the other hand, the search engine giant has made it quite clear that it does not want to join the banking sector. It does not want to be part of that sector for a particular reason.
“We are not a bank and have no plans to become one.” Some previous initiatives unintentionally encroached on these areas,” he noted.
