JAKARTA – The adoption of cryptocurrencies is starting to spread. This time it's Google Cloud that plans to accept cryptocurrency payments to accelerate the development of the next generation of internet, Web3. To support these payment services, Google Cloud has formed a partnership with one of the largest cryptocurrency exchange companies in the US, Coinbase.
The collaboration is aimed at driving Web3 innovation, including cryptocurrency payment services. Coinbase welcomes the partnership positively. For your information, Coinbase itself is listed on the US stock exchange, Nasdaq.
“We are thrilled that Google Cloud has chosen Coinbase to help bring Web3 to a new set of users and provide developers with a powerful solution,” said Coinbase CEO Brian Armstrong.
On Tuesday, October 11, Alphabet Inc's Google Cloud. and cryptocurrency exchange Coinbase has announced “a new long-term strategic partnership to better serve the growing Web3 ecosystem and its developers.”
Under the agreement, Coinbase will use Google Cloud to build advanced exchanges, grow data services, and process blockchain data at scale. The exchange will also leverage Google's fiber optic network to increase the global reach of its crypto services.
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Further, Coinbase will build its global data platform on the Google Cloud infrastructure and leverage the internet giant's data and analytics technology to provide Coinbase customers with machine learning-driven crypto insights, the announcement details, outlining:
“As part of the partnership, Google Cloud is positioned to enable certain customers, starting with those in the Web3 ecosystem, to pay for its cloud services via specific cryptocurrencies.”
Reporting from Bitcoin.com News, Google's Bigquery crypto public dataset will be powered by Coinbase Cloud Nodes, across leading blockchains. The plan is to make it accessible to Web3 developers.
“We are thrilled that Google Cloud has chosen Coinbase to help bring Web3 to a new user pool and provide developers with a powerful solution… With over 100 million verified users and 14,500 institutional clients, Coinbase has spent more than a decade building industry-leading products on top of blockchain technology,” said Coinbase CEO Brian Armstrong.
Commenting on the partnership, Thomas Kurian as CEO of Google Cloud said his party plans to accelerate the development of Web3.
“We want to make building on Web3 faster and easier, and this partnership with Coinbase helps developers move one step closer to that goal,” concluded Kurian. Furthermore, Google plans to use an institutional crypto service, Coinbase Prime, for service management and security.
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