Google and Citigroup, an international financial conglomerate, and Stanford Credit Union universities will offer users the opportunity to open current accounts. It is reported by The Wall Street Journal.
related article: He was bullied at school but now lives a lavish lifestyle thanks to trading in Bitcoin and other cryptocurrency
The project, codenamed Cache, will begin work in 2020.
Your Google Account will not differ from Citibank’s standard current account. Access to accounts will be provided through Google Pay.
related article: Australian investor bought a 2,800sqm property in Charleville with money he earned by innovative financial tool
Whether current account fees will be charged is not yet clear.
According to the head of Google payment services Caesar Sengupta, the corporation is going to work actively with financial institutions and is open for cooperation with other banks.
Recall that in March Citigroup refused to releaseown cryptocurrency token. Having studied the asset’s capabilities in international settlements, the company recognized the existing technological solutions provided by the SWIFT system as more efficient, and their financing was economically viable.
Read this:
WELTRADE Blog | Why can bitcoin fall further? Will Google destroy bitcoin? Is a quantum computer a threat to the Kryptonians?
Google announced checkmate to Bitcoin, now officially!
BitGo began providing castodial services to the cryptocurrency exchange Bitstamp
Bitcoin among the top three most popular online payment systems in Italy
TruePlay platform introduced blockchain solutions for online gambling and announced a partnership with Curaçao eGaming
Andreas Antonopoulos: Google quantum computer does not threaten bitcoin