Google will initially accept crypto payments only from a small portion of its customer base.
Google will allow some customers to pay for cloud services with digital currencies early next year
Photo Credit: Coinbase
Google and Coinbase revealed plans for a strategic partnership which would allow select customers to pay for the cloud services using crypto from early 2023. Coinbase will use Google Cloud's compute platform to process blockchain data at scale in a bid to improve the global reach of its crypto services by leveraging Google's fiber-optic network. Coinbase will also build its global data platform on Google Cloud's infrastructure and leverage their leading data and analytics technologies to provide Coinbase customers with machine learning-driven crypto insights.
Initially, crypto payments will be available to companies working in the Web3 space with a limited number of cryptocurrencies offered. Coinbase Commerce currently supports ten digital assets, including the largest and most popular ones – Bitcoin, Ether, Litecoin, Dogecoin, Bitcoin Cash, and others. Coinbase's commerce platform already integrates into several platforms, notably Shopify.
Blockchain developers will also be able to use Google's BigQuery crypto public datasets. These will be powered by Coinbase's cloud nodes which aim to streamline the building process for decentralised applications (dApps). Google, meanwhile, will use Coinbase Prime for its institutional crypto services, such as custody and reporting.
"We are excited Google Cloud has selected Coinbase to help bring Web3 to a new set of users and provide powerful solutions to developers," said Brian Armstrong, Co-founder and CEO of Coinbase. "We could not ask for a better partner to help execute our vision of building a trusted bridge into the Web3 ecosystem."
"We want to make building in Web3 faster and easier, and this partnership with Coinbase helps developers get one step closer to that goal," said Thomas Kurian, CEO of Google Cloud. "We're proud Coinbase has chosen Google Cloud as its strategic cloud partner, and we're ready to serve the thriving global Web3 customer and partner ecosystem. Our focus is making it frictionless for all customers to take advantage of our scalability, reliability, security, and data services, so they can focus on innovation in the Web3 space."
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