Google Cloud Platform to start accepting payments through Coinbase

The tech giant Google will allow some customers to pay for cloud services with cryptocurrencies via Coinbase.

As part of the strategic partnership, the exchange will use Google Cloud instead of Amazon Web Services to process blockchain data.

In early 2023, crypto payments will be available to several Web3 companies. In particular, Coinbase has already integrated with the Shopify platform.

The Coinbase Commerce processing service supports 10 digital currencies, including Bitcoin, Bitcoin Cash, Dogecoin, Ethereum and Litecoin.

Terms of the deal have not been disclosed. However, according to Jim Migdal, the exchange’s vice president of business development, the trading platform will take a percentage of the transactions.

Blockchain developers will be able to use Google’s public cryptographic datasets via Google BigQuery. They will run on Coinbase’s cloud nodes to optimise the creation of dapps.

Google will also study the possibility of using Coinbase Prime for custody of cryptocurrencies and for managing the associated investment portfolio risks.

Earlier, in August, BlackRock announced a collaboration with Coinbase Prime to provide direct access for institutional clients to trading digital assets.

In January 2022, Google hired former PayPal chief Arnold Goldberg to relaunch the payments division. The appointment is tied to the company’s broader strategy of aligning with a range of financial services, including those focused on cryptocurrencies.

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