Is BTC Nearing Its End With Google Getting Involved With Banking?

• The United States banking giant Citigroup has just started a partnership with Google.

• This teamwork between the two companies is being done in order to get the search engine to launch its own ‘smart checking’ bank accounts.

• It’s very possible Facebook is being seen as a major threat with its crypto domination ambitions by the two companies.

The United States banking giant Citigroup has just started a partnership with the online conglomerate, Google. This teamwork between the two companies is being done in order to get the search engine to launch its own ‘smart checking’ bank accounts. Code-named Cache, the account will be available to use through Google Play,

It’s worth pointing out that mainstream media has been dubbing this as the ‘bitcoin killer’. 

As per Bitcoinist:

“The concept and details are still vague, but they too are already touting it as the future of banking. It could be that customers just get access to a slick Google powered platform with a traditional bank account bootstrapped to it. Google is not the first tech giant angling for a slice of the lucrative financial pie and it won’t be the last.”

It’s very possible Facebook is being seen as a major threat with its crypto domination ambitions by the two companies. This is especially applicable when you consider the huge wave of resistance the network has met from international regulators and lawmakers.

Google is taking a much more traditional approach in partnering with a well-established bank, however.

Google executive Caesar Sengupta has said:

“Our approach is going to be to partner deeply with banks and the financial system. It may be the slightly longer path, but it’s more sustainable.”

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!