Google Cloud has announced a partnership with Coinbase to drive Web3 innovation that includes using the crypto exchange to accept cryptocurrency payments. “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.
Alphabet Inc.’s Google Cloud and the Nasdaq-listed crypto exchange Coinbase announced Tuesday “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 its advanced exchange, grow data services, and process blockchain data at scale. The exchange will also leverage Google’s fiber-optic network to enhance the global reach of its crypto services.
In addition, Coinbase will build its global data platform on Google Cloud’s infrastructure and leverage the internet giant’s data and analytics technologies to provide Coinbase customers with machine learning-driven crypto insights, the announcement details, elaborating:
As part of the partnership, Google Cloud is positioned to enable select customers, starting with those in the Web3 ecosystem, to pay for its cloud services via select cryptocurrencies.
Moreover, Google’s Bigquery crypto public datasets will be powered by Coinbase Cloud Nodes, across leading blockchains, accessible to Web3 developers.
Coinbase CEO Brian Armstrong commented: “We are excited Google Cloud has selected Coinbase to help bring Web3 to a new set of users and provide powerful solutions to developers … 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.”
Google Cloud CEO Thomas Kurian opined: “We want to make building in Web3 faster and easier, and this partnership with Coinbase helps developers get one step closer to that goal.”
The announcement further notes:
Google will use Coinbase Prime, for institutional crypto services, like secure custody and reporting.
What do you think about Google Cloud partnering with Coinbase? Let us know in the comments section below.
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