Google is partnering with Coinbase so that customers can pay for its cloud services in cryptocurrency. While paying for the cloud services they will be given the “select cryptocurrency” options. According to reports, these crypto-based services will be made available in web3 space by next year.
The partnership with Coinbase will enable Google to use Coinbase Commerce. This tool allows businesses to receive, accept, and convert cryptocurrencies, including Bitcoin, Ethereum, and USD Coin, among others.
According to the report, Coinbase will take a share of transactions made via its commerce tool.
Google’s Plan On the Partnership
Google is also planning to utilize Coinbase Prime, a higher crypto trading platform. This platform is primarily built for large companies to store and trade cryptocurrencies.
As part of the partnership, Coinbase will move some of its data-related applications from Amazon Web Services to Google Cloud.
There is also a tool called Coinbase Node, which developers can use to gain access to blockchains and build decentralized apps. This aligns with Google’s goal of providing a back end for Web3 developers.
What Google is Saying?
CEO of Google Cloud, Thomas Kurian in a statement said,
“We want to make building in Web3 faster and easier, and this partnership with Coinbase helps developers get one step closer to that goal. 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”
Crypto has had its downfall this year with bitcoin down to 59% and Ethereum to 65%. This merger however will make the cryptocurrency’s network more energy-efficient and valued in the market.
Follow us on techkudi.com for more fintech news