Users who hold debit cards issued by cryptocurrency exchange Bakkt will be able to convert their crypto balances to make fiat payments using Google Pay.

In an Fri announcement, Bakkt said information technology had partnered with Google to allow its users to buy goods and services using Bitcoin (BTC) and other cryptocurrencies through the Google Pay wallet and payment organisation. In addition, Bakkt plans to build new analytics and geolocation functionality on its platform using Google Cloud tools. The substitution hopes that the features will expand loyalty redemption options "while providing Bakkt partners with valuable consumer behavior patterns."

"This partnership is a testament to Bakkt's strong position in the digital asset marketplace, to empower consumers to enjoy their digital assets in a real-time, secure, reliable manner," said Bakkt CEO Gavin Michael.

According to Google, "millions" of retailers currently take Google Pay as a form of payment, potentially giving Bakkt users the ability to pay in crypto at "supermarkets, pharmacies, restaurants, wear stores, gas stations, dazzler shops" and others. The Bakkt partnership follows major crypto substitution Coinbase's June proclamation that Apple Pay and Google Pay would offer support for its Coinbase Bill of fare. Gemini has allowed its users to purchase crypto with Apple Pay and Google Pay since April.

Related: Bakkt launches payments app as institutions compete for crypto assets

Launched by the Intercontinental Exchange in 2022, Bakkt starting time offered BTC futures contracts exclusively to accredited investors. In March, the platform released a payments app allowing users to apply crypto to make purchases, designed to "dilate consumer spending, reduce payment costs, and bolster merchant loyalty programs."