Google In Collaboration With Coinbase For Cloud Payment With Crypto, For Special Customers

JAKARTA - Google announced a new deal with Coinbase that would allow a select group of customers to pay for its cloud services using digital currencies such as Bitcoin. This agreement will take effect early next year.

According to CNBC on October 11, the tech giant also plans to explore using Coinbase Prime, a custodial service for storing and trading cryptocurrencies.

In return, Coinbase announced that it will move some of its data-related applications, which were initially stored using Amazon Web Services, to Google Cloud.

Amit Zavery, vice president, general manager and head of the platform on Google Cloud, said that initially cryptocurrency payments would only be accepted from a select group of clients who were already active on the Web3 through Coinbase Commerce integration.

Zavery also stated that, over time, these services will be offered to more of his customers.

Coinbase Commerce currently facilitates payments with 10 cryptocurrencies including Bitcoin, Bitcoin Cash, Dogecoin, Ether, and Litecoin.

Coinbase's vice president of business development, Jim Migdal, said conversations with Google about payments, Prime services, and cloud use had been going on for months.

While the details of the deal remain kept private to the public, Coinbase will take a percentage of its facilitated transactions, as will other Coinbase Trade deals.

This development comes after the recent Web3 partnership was announced on October 4, which involved Google Cloud Services and Near Protocol. An announcement from the Near Foundation reveals that Google Cloud will offer "technical support" to Near grant recipients.