Plans for a strategic relationship between Google and Coinbase were made public. Selected consumers will be able to use cryptocurrency to pay for cloud services starting in early 2023. Coinbase will handle blockchain data at scale using the computational platform of Google Cloud to expand its cryptocurrency services' reach by utilizing Google's fiber-optic network. To provide Coinbase clients with machine learning-driven crypto insights, Coinbase will also develop its global data platform on the architecture of Google Cloud and use its top data and analytics capabilities.
The Web3 sector's businesses will access a small selection of cryptocurrencies for payment use. Ten digital assets, including the biggest and most well-known ones, including Bitcoin, Ether, Litecoin, Dogecoin, Bitcoin Cash, and Ripple, are supported by Coinbase Commerce and others. Coinbase's commerce platform already integrates into several venues, notably Shopify.
The BigQuery crypto public datasets from Google will also be available to blockchain developers. These will be supported by Coinbase's cloud nodes, designed to make the process of creating decentralized apps more efficient (dApps). For its institutional cryptocurrency services, such as custody and reporting, Google will utilize Coinbase Prime.
According to Brian Armstrong, co-founder, and CEO of Coinbase, "We are thrilled Google Cloud has picked Coinbase to help introduce Web3 to a new group of customers and give powerful solutions to developers." "We could not ask for a better partner to help us carry out our aim of creating a reliable link into the Web3 ecosystem," the statement continued.
According to Thomas Kurian, CEO of Google Cloud, "We aim to make working in Web3 faster and easier, and our cooperation with Coinbase lets developers go one step closer to that goal. "We're happy that Coinbase has selected Google Cloud as its crucial cloud partner, and we're prepared to support the burgeoning Web3 partner and client ecosystem throughout the world. So that they may concentrate on innovation in the Web3 sector, our goal is to make it frictionless for all of our clients to benefit from our scalability, dependability, security, and data services.