Google Partners up With Coinbase for Crypto Payments
Coinbase has partnered with Google Cloud to provide crypto services to Web3 users and developers.
The crypto exchange will process blockchain data on Google Cloud and expand its cryptocurrency services with Google’s optical network, according to a press release.
Through the partnership, customers can pay for Google’s cloud services using cryptocurrencies and gain access to Coinbase Commerce, which allows businesses to accept payments in cryptocurrencies.
“We’re thrilled that Google Cloud has chosen Coinbase to help bring Web3 to a new set of users and to provide powerful solutions for developers” Brian Armstrong, co-founder and CEO of Coinbase, said in the announcement.
“With more than 100 million verified users and 14,500 institutional customers, Coinbase has spent more than a decade building industry-leading products on the blockchain. We couldn’t ask for a better partner to help us realize our vision of building a trusted bridge to the Web3 ecosystem.”
The partnership announcement was made at the Cloud Next conference on Tuesday. According to a CNBC report, the crypto payments feature will initially be offered to a select few customers. This will be the first step before making it available to all Google Cloud users, said Amit Zaveri, vice-president of the engineering division at Google.
READ MORE: Binance Removes Three Stablecoins From Its Platform
He added that Google had tried crypto payment products from several other companies before settling on Coinbase.
On the other hand, this could be a great opportunity for Coinbase to further expand its user base to institutions. The deal with Google comes at a time when the crypto exchange is actively looking to expand outside the U.S. Earlier on Tuesday, Coinbase received a license from the Central Bank of Singapore to operate with digital tokens in the country.
Jim Migdal, CEO of Coinbase, said the company will move data-related applications from AWS to Google.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
