Coinbase and Google have announced plans for a strategic partnership that would allow select customers to pay for cryptocurrency for cloud services starting early 2023. In order to improve its worldwide reach by using Google Cloud''s fiber-optic network, Coinbase will build its global data platform on Google Cloud''s infrastructure and leverage its leading data and analytics technologies to offer Coinbase customers powerful machine learning insights.
With a limited number of cryptocurrencies being offered, crypto payments will be offered to individuals working in the Web3 space. Coinbase Commerce currently supports ten digital assets, including the most powerful and most popular ones Bitcoin, Ether, Litecoin, Dogecoin, Bitcoin Cash, and others. Coinbase''s commerce platform already integrates into several platforms, including Shopify.
Blockchain developers will also be able to leverage Google''s BigQuery crypto public datasets. These will be powered by Coinbase''s cloud nodes, which aim to streamline the building process for decentralised applications (dApps). Google will also utilize Coinbase Prime for its institutional crypto services, such as custody and reporting.
"We are so pleased that Google Cloud has selected Coinbase to help bring Web3 to a new audience, as well as provide powerful solutions to developers," says Brian Armstrong, the founder and CEO of Coinbase. "We can not ask for a better partner to fulfill our goal of establishing a trusted bridge into the Web3 ecosystem."
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"We want to make building in Web3 quicker and easier," said Thomas Kurian, CEO of Google Cloud. "We''re proud Coinbase has chosen Google Cloud as its strategic cloud partner, and we''re committed to supporting the worldwide Web3 customer and partner ecosystem. We''re also enabling all customers to take advantage of our scalability, security, and data services, which they can use to improve the web3 experience.