Indeed it not only is possible, it's easy.
Got to Blogger.com Log in if needed and go to the Dashboard. From the Dashboard, go into Settings. Once in Settings, click on the Publishing tab.
On this page, you'll see where it says...
You're publishing on blogspot.com
Switch to: • Custom Domain (Point your own registered domain name to your blog)
Hint: If you want to publish to an external FTP server, you will need to Set 'Blog Readers' to 'Anybody' and use a Classic Template. Click on Custom Domain, then find where it says...
Already own a domain? Switch to advanced settingsClick on "Switch to advanced settings". In the Advanced Settings, input your new domain name where required. There are a couple of links you can click on to check to make sure your domain name is properly set up and to learn more about missing files host.
If you think your domain name is already set up properly, then just hit the Save Settings button and it should be good to go.