Google Takes Action to Expand Further Into Crypto

According to Bill Ready, Google’s President of Commerce, the hire of Paypal’s vet falls into its plans of pushing into financial services, including cryptocurrencies.

Alphabet Inc.’s Google, which began dipping its toes into the crypto space in 2020, has continued to push into the industry, announcing the hire of former PayPal executive Arnold Goldberg.

Goldberg, who previously served as the chief product architect and general manager at PayPal, will head the payment division of the tech giant.

Google Expanding Its Payment Services

According to Bill Ready, Google’s President of Commerce, the hire of the Paypal vet is inline with its plans of moving further into financial services, including cryptocurrencies. With this move, Google is looking to position itself to revisit its ambitions for banking and payments.

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Google’s online payment system, Google Pay, allows in-app, online, and contactless purchases on mobile devices. However, Google is now switching its focus more towards being a “comprehensive digital wallet.”

In expanding its Google pay services, the tech giant is working with Indifi Technologies, an Indian online lender, to offer instant loans to small merchants through the Google Pay app.

In line with its push for offering greater financial services, Google has partnered with America’s leading crypto exchange, Coinbase. Google has also displayed its interest in blockchain technology, having formed a blockchain and distributed computing division in a related move.

On the Flipside

  • Despite its push towards crypto, Google has seemingly abandoned its quest to join the banking community, stating that it has no intention of being a bank.

Why You Should Care

According to Bill Ready, crypto is something Google needs to pay a lot of attention to and evolve with, as demand for crypto services continues to increase from consumers and merchants alike.

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Milko Trajcevski

Milko Trajcevski is a DailyCoin news reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs). Location: Skopje, Macedonia