Key takeaways:
- Google’s cloud division has entered a strategic partnership with Coinbase
- The deal will see Google start accepting crypto for cloud services
- Google will also use Coinbase’s digital asset custody service
Crypto payments will initially be available only to select customers
Earlier today, Google announced that it would start allowing a subset of its customers to pay for cloud services using digital currencies. Cryptocurrency transactions will be facilitated by Coinbase, the largest US crypto exchange.
According to a report by CNBC, the ability to pay with crypto will first become available to select users in early 2023. However, the search giant has said that it would expand the service to more customers in the future.
In addition to tapping into crypto payments, Google will reportedly also be “exploring” Coinbase Prime, a corporate-focused solution that combines advanced trading tools and digital asset custody. Coinbase co-founder and CEO, Brian Armstrong, commented:
“We are excited Google Cloud has selected Coinbase to help bring Web3 to a new set of users and provide powerful solutions to developers.”
As a part of the deal, Coinbase will be transferring a part of its Amazon Web Service-hosted applications over to Google’s servers.
Google Cloud CEO Thomas Kurian said they are proud Coinbase has chosen Google Cloud as its strategic partner and added they look forward to serving the “thriving global Web3 customer and partner ecosystem.” Kurian also added that the Google cloud division’s focus is to provide a frictionless environment where developers can focus on Web3 innovation.
In related news, NEAR Foundation and Google Cloud entered an agreement last week, which will speed up the development process of NEAR Protocol-based decentralized applications (dApps).
