Google Accept Cryptocurrency For Cloud Service In Coinbase Partnership.
A portion of Google's customers will be able to make payment for cloud services using bitcoin and other cryptocurrencies. In a collaboration with Coinbase, the new payment method will launch in the first quarter of next year. The exchange will switch over to Google Cloud for its data platform. Early next year, Google will begin accepting bitcoin and other cryptocurrencies as payment for its cloud services.
The internet behemoth revealed on Tuesday that it had partnered with Coinbase, the biggest cryptocurrency exchange in the United States, to make the new payment method possible.
The new payments experience will benefit Google Cloud's customers and partners by increasing the optionality of payments for Google Cloud services, according to a statement from Google. "Powered by Coinbase Commerce, which enables merchants globally to accept cryptocurrency payments in a decentralized way," Google said in the statement.
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The goal, according to Thomas Kurian, CEO of Google Cloud, is to "make it frictionless for all customers to take advantage of our scalability, reliability, security, and data services" so that customers can concentrate on innovating in the cryptocurrency space.
Google will also make use of Coinbase Prime, the exchange's institutional custody and investment platform for cryptocurrencies. Although it is still unclear which specific services the platform Google will use, the business made a statement in which it alluded to custody and reporting services.
Additionally, as a result of the partnership, Coinbase's global data platform will be integrated into Google Cloud, allowing cryptocurrency developers to access Google's BigQuery public datasets, which will be supported by Coinbase Cloud Nodes.
The announcement states that "without the need for costly and complex infrastructure, the integration will enable developers to instantly and reliably operate Web3-based systems."