Google has secured a long-term strategic partnership with leading American cryptocurrency exchange Coinbase to enable selected customers to pay for its cloud services using Coinbase Commerce in 2023.
Google to Accept Selected Crypto Assets
The company announced the partnership today at Google Cloud’s Next 22 conference, where it talked about its wins, new alliances, and product innovations designed to enable various businesses and organizations to adapt to the ever-changing customer demands.
Although Google has an existing relationship with the exchange, the new deal seeks to strengthen the business relationship it has enjoyed with the firm over the years.
The collaboration will allow Google customers to access its cloud services using different cryptocurrencies. Coinbase Commerce currently supports ten virtual assets, including Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Tether (USDT). However, the company did not specify which digital assets would be accepted.
Coinbase to Use Google Infrastructure
As part of the agreement, Coinbase will use the Google Cloud power computing platform to process blockchain data on a large scale to accelerate the global reach of its services. The company will also tap Google Cloud’s secure infrastructure to build its data platform to offer its customers machine learning-driven crypto insights.
The partnership between Google and Coinbase will benefit software developers building Web 3 applications to leverage Google’s BigQuery crypto-dedicated datasets. The software will be powered by Coinbase Cloud Nodes, designed to enable instant read/to write access to blockchain technology without having to develop your own.
“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,” said Thomas Kurian, CEO of Google Cloud.
Google Cloud to Offer Institutional Crypto Services
With the Web 3 ecosystem positioned at the center of the partnership, Kurian noted that the company wants to make building and deploying applications in Web 3 more accessible and faster for developers.
In addition to choosing Coinbase to provide crypto payment services to its cloud customers and partners, Google plans to use Coinbase Prime to offer institutional crypto services such as secure custody and crypto reporting.
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