In an announcement published on Tuesday (11), Google Cloud revealed a partnership with Coinbase to enable their customers to use cryptocurrencies to pay for their services.
The partnership comes a month after the exchange signed an agreement with BlackRock, the world’s largest asset manager, to offer Bitcoin to its customers. So Google is not the only giant taking the plunge into the cryptocurrency sector.
“As part of the partnership, Google Cloud is positioned to enable select customers, starting with those in the Web3 ecosystem, to pay for their cloud services through select cryptocurrencies.”
Google Cloud previously announced a partnership with BNB Chain. As with today’s announcement, the company also stated that the focus was on web 3.
Google Cloud starts accepting cryptocurrencies on its service
In January, Google Cloud surprised investors by creating a team dedicated to digital assets and blockchain. Today, nine months later, the company is taking a big step in adopting cryptocurrencies.
Through a partnership with the exchange Coinbase, Google Cloud now accepts cryptocurrencies as a means of payment. While the company doesn’t say which cryptos it will work with, we can expect Bitcoin and Ethereum to be on this list as they are the two largest in the industry.
“We want to make building Web3 faster and easier, and this partnership with Coinbase helps developers move closer to that goal.”
“We are proud that Coinbase has chosen Google Cloud as its strategic cloud partner and we are ready to serve Web3’s thriving global ecosystem of customers and partners”said Thomas Kurian, CEO of Google Cloud. “Our focus is on making it easy for all customers to take advantage of our scalability, reliability, security and data services so they can focus on innovation in the Web3 space.”
Brian Armstrong said he and his team are excited about choosing Google. In the note, Coinbase’s founder and CEO points out that Google Cloud is joining 14,500 other institutional clients of the exchange.
“We couldn’t ask for a better partner to execute on our vision to build a trusted bridge in the Web3 ecosystem.”
Google takes first steps towards cryptocurrencies
On another front from Google, it’s worth remembering that YouTube also looks at cryptocurrencies. Therefore, it is possible that other services of this giant will start working with cryptocurrencies in the future.
Currently, Google is the fourth largest company in the world by market capitalization and since so many of its services are online and global, adopting Bitcoin would be a perfect match.
Despite the good news, Bitcoin price did not move on Monday morning (11) and continues to struggle not to close out the day below $19,000. Either way, Google’s submission is yet another confirmation that cryptocurrencies are here to stay.
Source: Live Coins
John Cameron is a journalist at The Nation View specializing in world news and current events, particularly in international politics and diplomacy. With expertise in international relations, he covers a range of topics including conflicts, politics and economic trends.
