Coinbase Will Allow to Pay for Google Cloud Services in Crypto
Some Google Cloud users will be able to pay for the platform’s services with cryptocurrencies through Coinbase Commerce starting in 2023.
Coinbase announced a strategic partnership with the tech giant Google. As part of the cooperation, users working in the Web 3.0 ecosystem will pay for Google Cloud services with crypto-assets next year.
According to Amit Zavery, VP of Google Cloud, many customers will get the opportunity to pay for Google cloud services with crypto over time.
The first stage of the cooperation will only be available in BTC and ETH, but Coinbase Commerce’s processing service will allow users to make payments in other cryptocurrencies in the future.
Details of the agreement haven’t been disclosed, but Jim Migdal, VP of Business Development at Coinbase, said the exchange would receive a percentage of all transactions made through the system.
Coinbase plans to switch to Google Cloud for processing blockchain data as part of the cooperation. Recall that now the exchange uses Amazon Web Services for this purpose.
Amit Zavery clarified that Google would also consider options to use Coinbase Prime to store cryptocurrencies. Moreover, the corporation’s plans include experiments with crypto portfolio management.
Google is actively studying the possibilities of blockchain technology and its integration into its services. This year, Google’s investment in the crypto space through the parent company Alphabet amounted to about $ 1.5 billion.