Google chooses Coinbase as partner to take cloud payments with cryptocurrencies
Google announced that it is partnering with Coinbase to allow customers to pay for cloud services with cryptocurrencies early 2023.
Google will also use Coinbase's custody service, Coinbase Prime to execute trades.
The announcement was made at Google’s Cloud Next conference on Tuesday. Coinbase shares were up by as much as 8.4% on Tuesday, although the stock is still down over 70% for the year.
The Google Cloud Platform will initially allow a small subset of customers in the Web3 industry made possible by an integration with the Coinbase Commerce Services. Subsequently, Google will allow more customers to use this service.
‘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.
Google has been adding crypto services to its platform recently, including a partnership with BNB chain to support the growth of early-stage Web3 and blockchain startups and providing data about Ethereum wallet addresses when users search for the information on Google’s search engine.