- Google strikes a deal with popular crypto exchange Coinbase.
- Coinbase will leverage Google’s cloud infrastructure.
- Google will allow crypto payments for its cloud services with Coinbase.
Search engine Giant Google takes a big step to embrace crypto. Crypto users can now make cloud payments with cryptocurrencies via Coinbase. This iteration is now possible since Google decided to use Coinbase as its custody tool.
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In detail, Google is opening the chance for a certain subset of customers to pay for cloud services with cryptos. This service will be open to the users sometime in the earlier months of the coming year.
To highlight, Google made the announcement on Tuesday. This collaboration between Google and Coinbase seems to be a two-way street. In this give-and-take collaboration, Coinbase will leverage Google’s cloud infrastructure.
More so, the announcement was made at Google’s Cloud Next conference. The tech giant hopes to draw in more cutting-edge companies into Google’s inner circle. In turn, it also shows its competitors that it is still very much working to up its game.
After all, Google’s cloud business helps its parent Alphabet turn away from advertising. Presently, it accounts for 9% of revenue. This is a significant rise from its below 5% three years ago. Google and Alphabet continue to expand at a rapid pace.
In particular, Google has taken many steps to embrace the rapidly growing sector of cryptocurrencies. So far, Google Cloud struck a partnership with Axie Infinity as a validator. As another example, Google also opened a web3 team to keep up with the growing pace of the crypto industry. Clearly, the team is doing a great job. As for Coinbase, the popular cryptocurrency exchange is on a league of its own. For instance, much of Coinbase’s revenue comes from retail transactions. Now, it will move its data-related application onto Google’s Amazon Web Services cloud.
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