Google has formed a new partnership with Coinbase. Accordingly, the leading technology company will allow payments with cryptocurrency on Google Cloud. Expected to arrive on the Cloud early next year, crypto payments will include Dogecoin and these 8 altcoin assets. In other words, users will be able to purchase Google Cloud services with crypto money in 2023.
Google Cloud will accept Dogecoin and these 8 altcoin assets
It looks like Google will help bring cryptocurrencies to an even wider audience. According to a report released on Tuesday, Google has formed a strategic partnership with major US-based crypto exchange Coinbase. This partnership includes integrating Google’s crypto payments into the Cloud platform in early 2023. Google made the big announcement at its recent Cloud Next conference.
Google Cloud VP/GM and Head of Platform Amit Zavery explained the scope of the limited audience to which payments will apply. Accordingly, crypto payments will initially only be available to assets already active in the Web3 industry through integration with Coinbase Commerce. Coinbase Commerce currently includes 8 altcoins such as Tether, Dogecoin, Bitcoin Cash, and Litecoin, as well as Bitcoin and Ethereum.
Google will use Custody Prime for crypto services
As part of the deal, Google agreed to use Custody Prime. Prime will enable institutional cryptocurrency services, including custody and reporting. In turn, some of Coinbase’s data-related apps will stream to Google Cloud. Currently, Coinbase maintains this data on the Amazon Web Services platform.
Continuing his words with crypto payments, Zavery also stated that payment access will be made available to a wider audience as time goes on. Meanwhile, Coinbase will charge some fees for the payment transactions it facilitates, just like any other Coinbase Commerce product.
Google starts adopting cryptocurrencies
Google Cloud has historically tended to stay away from crypto. However, the company decided to create a dedicated digital asset team earlier this year. Since the creation of this team, the company has continuously expanded its presence in the Web3 space. Google Cloud’s parent company, Google, has a large user base around the world. Collaboration between Google Cloud and Coinbase is critical to crypto adoption. Because enabling crypto payments for Dogecoin, Bitcoin and 8 altcoins will support mass adoption.
In fact, the Google Cloud crypto payment service could be the most significant global adoption move. Suppose the company will offer crypto payments to an unlimited number of users worldwide. In this case, this will be one of the most important events for cryptocurrency adoption to date.
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