Coinbase has announced plans for a strategic partnership that would allow select customers to pay for the cloud services using crypto from early 2023. Coinbase will utilize Google Cloud''s compute platform to process blockchain data at scale in order to improve the worldwide reach of its cryptocurrency services by using Google''s fiber-optic network. Coinbase will also leverage its international data platform on Google Cloud''s infrastructure and leverage their leading data and analytics technologies to provide Coinbase customers with machine learning insights.
With a limited number of cryptocurrencies being offered, cryptocurrency payments will be made for businesses working in the Web3 world. Coinbase Commerce currently supports ten digital assets, including the most famous 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 use Google''s BigQuery crypto public datasets. These will be powered by Coinbase''s cloud nodes that aim to streamline the building process for decentralised applications (dApps). Google has partnered with Coinbase Prime to develop its institutional crypto services, such as custody and reporting.
"We are pleased that Google Cloud has chosen Coinbase to help bring Web3 to a broad audience and provide powerful solutions to developers," said Brian Armstrong, co-founder and CEO of Coinbase. "We couldn''t ask for a better partner to execute our vision of building a trusted bridge into the Web3 ecosystem."
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"We want to make building in Web3 faster 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 ready to serve the rapidly expanding global Web3 customer and partner ecosystem. We are also ensuring that all customers can benefit from our scalability, security, and data services, so they can focus on innovation in the Web3 environment.