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Google LLC will soon accept cryptocurrency as payments for its Cloud services, and for this, it has selected Coinbase to be its partner. It will also be using the crypto company’s Coinbase Prime custody service as part of the agreement.
Through the collaboration, the tech firm will now be able to offer the crypto payment option to users of its Google Cloud. The company revealed its partnership with Coinbase on Tuesday, Oct. 11.
Starting next year, Google will rely on Coinbase for accepting crypto payments from customers. As per CNBC, the deal was unveiled during the company’s Cloud Next conference, and it is hoped that this will lure companies to use its services. It was noted that its rivals are already accepting digital currency payments, so the team up with Coinbase should also boost the number of Cloud users, especially now that the Web3 ecosystem is emerging fast.
"We want to make building in Web3 faster and easier, and this partnership with Coinbase helps developers get one step closer to that goal," Google Cloud’s chief executive officer, Thomas Kurian, said in a press release.
He added, "We are 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."
Initially, Google Cloud will be accepting cryptocurrency from select customers who prefer this mode of payment. It will be processed through the Coinbase Commerce service, which will be integrated into the platform as per Google cloud's vice president and general manager, Amit Zavery.
Currently, Coinbase supports a total of 10 different digital currencies, and these are Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), and Dogecoin (DOGE). In any case, the terms of Google Cloud and Coinbase’s agreement were not revealed, but the latter will surely earn a percentage from the transactions.
"We are excited Google Cloud has selected Coinbase to help bring Web3 to a new set of users and provide powerful solutions to developers," Coinbase’s co-founder and CEO, Brian Armstrong, said.
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