Google on Tuesday announced that it is partnering with Coinbase, which will allow customers in the Web3 ecosystem to pay for its cloud services using the crypto exchange from early 2023.
The new, long-term strategic partnership announced at Google’s Cloud Next conference aims to better serve the growing Web3 ecosystem and its developers.
“We want to make building in Web3 faster and easier, and this partnership with Coinbase helps developers get one step closer to that goal,” 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 thriving global Web3 customer and partner ecosystem. Our focus is making it frictionless for all customers to take advantage of our scalability, reliability, security, and data services, so they can focus on innovation in the Web3 space.”
As part of the partnership, Google will initially choose select customers in the Web3 ecosystem to pay for its cloud services via ‘select’ cryptocurrencies through Coinbase Commerce, a platform that helps merchants anywhere in the world accept cryptocurrency payments.
This will benefit Google Cloud’s customers and partners who will be able to pay for the cloud services using Bitcoin, Ether, Litecoin, Dogecoin, Bitcoin Cash, and others.
Secondly, Coinbase will be using Google Cloud’s powerful compute platform to process blockchain data at scale in an attempt to improve the global reach of its crypto services, by leveraging Google’s premium fiber-optic network.
Further, Coinbase will also build its global data platform on Google Cloud’s infrastructure and leverage its leading data and analytics technologies to provide Coinbase customers with machine learning-driven crypto insights.
Thirdly, through this partnership, Web3 developers will have access to Google’s BigQuery crypto public datasets, which will be powered by Coinbase’s Cloud Node service, across leading blockchains.
This integration will allow developers to promptly and reliably operate Web3-based systems without the need for expensive and complex infrastructure.
Lastly, Google said it would also explore using Coinbase Prime, an integrated solution for storing and trading cryptocurrencies, for institutional crypto services such as secure custody and reporting.
“We are excited Google Cloud has selected Coinbase to help bring Web3 to a new set of users and provide powerful solutions to developers,” said Coinbase CEO Brian Armstrong.
“With more than 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.”