Google has thus far been cynical about cryptocurrencies and has even introduced strict advertisement restrictions for digital asset organizations. However, recently the company has decided to make a new hire with the aim to build up upon its digital currency stance. As reported by media outlets, Google recently hired former PayPal employee Arnold Goldberg.
According to the Bloomberg article, the search engine company is planning to expand its digital payment services in the future. Goldberg has accepted the position as the new VP and general manager of the payments and emerging markets division at Alphabet Inc. The same department is also included in Google’s next billion-user project.
Bill Ready, the President of Commerce at Google, recently spoke to Bloomberg reporters in detail about the stance of the company on cryptocurrencies. Ready told the media that Google has now switched to a more proactive approach. He also reflected that the decision to hire Goldberg was a strategic move by the tech giant to broaden the scope of its financial services.
Another Google employee, Peeyush Ranjan, was recently promoted to general manager at Google consumer payment services. Ranjan has been working with Google as an engineer who also played an important role in making Google Pay a raving success in India. Furthermore, Ready also worked at PayPal as COO before joining Google.
In addition to making new hires, Google has also partnered with organizations like Coinbase and Bitpay. The third-party crypto exchange services provide crypto custodial services for digital cardholders. However, e-card holders will be able to convert their digital asset reserves into fiat currency before making the payments.
Ready claimed that Google is looking for more such partnerships, and he claimed that based on the user and merchant demands, the company is making the upgrade. Talking about the Web3 inclusion, Ready claimed that such a platform would allow the company to collect dividends for its infrastructure due to its free and open-sourced nature.