Google will start accepting bitcoin and cryptocurrency as payment for its cloud services early next year. The Internet giant made an announcement on Tuesday that it had set a partnership with Coinbase for offering the services while receiving the payment for the same, Coinbase, the largest cryptocurrency exchange in the U.S. will be able to pay that through Bitcoin and other Crypto options.
“Powered by Coinbase Commerce — which enables merchants globally to accept cryptocurrency payments in a decentralized way — the new payments experience will benefit Google Cloud’s customers and partners by increasing the optionality of payments for Google Cloud services,” Google said in a statement.
Google will also be using the Coinbase Prime service, which is the company’s cryptocurrency investing and custody platform. The statement didn’t clearly mention what particular services will be used by Google from the Coinbase Prime platform, it seemed to indicate that it would be the custody and reporting services.
The collaboration will also bring Coinbase’s global data platform to Google Cloud, enabling cryptocurrency developers to access Google’s BigQuery public datasets, which will be powered by Coinbase Cloud Nodes.
“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 Brian Armstrong, Co-founder and CEO of Coinbase. “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. We could not ask for a better partner to help execute our vision of building a trusted bridge into the Web3 ecosystem.”
“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.”