Alphabet Inc.’s Google Cloud and crypto exchange Coinbase have signed a new partnership that will allow customers to pay in cryptocurrencies such as Ethereum and Bitcoin for Cloud services.
“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.”
Under the new collaboration, Coinbase will use Google Cloud’s solutions to build advanced exchange and data services. The crypto exchange will also use Google Cloud’s compute platform to analyze blockchain data and enhance its reachability through Google’s fiber-optic network.
Coinbase will build its data platform on Google Cloud’s infrastructure and use its tools to generate market-driven crypto insights for its customers.
Web3 Developers
Moreover, the partnership will provide Web3 developers an opportunity to access Google’s BigQuery crypto public datasets powered by Coinbase Cloud Nodes. It is expected to eliminate the need for a complicated and expensive infrastructure.
“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. “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.”
Coinbase has been using Amazon Web Services to host most of its programs; however, it is expected to move some of the applications to Google Cloud after this partnership.
In return, Google will use Coinbase Prime for its institutional requirements like custody and reporting.
Google Cloud has been actively pursuing deals in the web3 space. Recently, it has signed up agreements with Near Protocol and BNB Smart Chain for its cloud services.
