Bakkt cardholders spend bitcoins via Google Pay

Regulated bitcoin derivatives trading platform Bakkt has agreed with Google to add a virtual debit card to the internet giant's payment system.

The collaboration will "expand the reach and convenience of digital assets to meet the needs of millions of users".

The card is suitable for paying for purchases at online and offline shops that support Google Pay. The cryptocurrency is converted to fiat when payments are made.

The agreement also involves Bakkt using Google Cloud services and promoting them to consumers and merchants in the US.

Based on these tools, the platform will add new analytical capabilities using geolocation, artificial intelligence and machine learning. Bakkt partners will gain more valuable consumer models and customers will receive enhanced loyalty programmes.

As a reminder, the platform launched a virtual Visa debit card for bitcoin payments in June.

Earlier, Bakkt unveiled an app that allows customers to store, buy and sell their first cryptocurrency.