Google Cloud to Accept Crypto Payments Through Coinbase Partnership
- Google Cloud will enable crypto payments early next year, though the feature will initially be available only to a select group of customers already active in web3.
- As part of the deal, Coinbase has agreed to move some of its data-related applications from Amazon Web Services to Google Cloud.
Shutterstock
Tech giant Google has formed a new partnership with popular exchange Coinbase to allow select customers to pay for cloud services using crypto early next year, the company said in a press release on 11 October.
According to the announcement, Google will initially allow only a select group of clients — that are already active in the web3 space — to use crypto as payment for its cloud services, which will be made possible through the Coinbase Commerce integration. The tech giant also revealed it will be using Coinbase Prime for its institutional crypto services, such as custody and reporting. The co-founder and CEO of Coinbase, Brian Armstrong, said in a statement:
“We are excited Google Cloud has selected Coinbase to help bring Web3 to a new set of users and provide powerful solutions to developers. With more than 100 million verified users and 14,500 institutional clients, Coinbase has spent more than a decade building industry-leading products on top of blockchain technology. We could not ask for a better partner to help execute our vision of building a trusted bridge into the Web3 ecosystem.”
As part of the deal, the popular crypto exchange has agreed to move some of its data-related applications from the Amazon Web Services to Google Cloud. Coinbase will further use the cloud provider to process blockchain data at scale, as well as leverage Google’s “premium fibre-optic” network to enhance its global reach.
Google Cloud has been expanding its presence in the web3 space for some time now, and most recently formed a partnership with the Near Foundation to provide “technical support” to Near grant winners. Last month the cloud provider also partnered with the BNB Chain — a blockchain closely linked to the Binance crypto exchange — to support the growth of early-stage web3 and blockchain startups.
- A little over $13 million in altcoins were sent to crypto exchanges Binance and Coinbase in the past 24 hours, which is in accordance with a September court order.
- The court ordered a phased liquidation process, which allows the bankruptcy estate to sell $3.4 billion worth of digital assets over a certain period of time.
Shutterstock
- Coinbase’s Base blockchain was made available to the public on Wednesday, featuring over 100 dApps and services as part of its ecosystem.
- In order to show its capabilities and promote its mainnet partners, Base has also launched an event called “Onchain Summer” that will allow users to mint exclusive NFTs on the network.
- During an interview with FT, CEO Brian Armstrong said that before the lawsuit a SEC staff member had said that all crypto except BTC was security, and should be delisted.
- When asked how he came to that conclusion, the SEC staff member reportedly said “we’re not going to explain it to you, you need to delist every asset other that Bitcoin”.