Google and Coinbase are teaming up to offer crypto services!

The most famous search engine in the world is focusing more and more openly on cryptocurrencies. Between the outstretched arms of Google Play, the arrival of the bank card to complete the offer, and the recent partnership with the NEAR agreement, Google does not want to miss the boat. Today, the Californian company announced an unprecedented merger with Coinbase, a historic figure in the crypto market.

Google and Coinbase: a partnership for Web3

Clearly, 2022 will not be a good year for cryptocurrencies. Between the collapse of values ​​like Bitcoin or Ethereum, the bankruptcies and layoffs of the main crypto-currency companies, it is difficult to have an optimistic view of the market.

However, for some experts, this is a temporary downtrend. Also, there is good news. The American giant Google has decided to partner with Coinbase to allow certain Google Cloud customers to pay for cloud services in crypto from the beginning of 2023.

The Coinbase cryptocurrency exchange to regain its momentum after months of bad times. At the Next ’22 annual conference, Coinbase and Google Cloud announced a partnership “to better serve the Web 3 ecosystem,” a joint press release points out.

This partnership will not allow you to pay for your Play Store purchases or your YouTube Premium subscriptions directly in bitcoin (but some will tell you that it is only a matter of time). In fact, the Mountain View company’s announcement relates only to its cloud service.

“Coinbase will leverage Google Cloud’s secure infrastructure to build its global data platform. Coinbase will use Google Cloud Compute Platform to process and analyze blockchain data and improve the global reach of its cryptocurrency services.

The internet giant is at the forefront of web2 infrastructures and is logically positioning itself to have the same influence on web3. The issue of infrastructure is crucial because it raises questions about true decentralization.

Soon possible to pay in crypto on Google?

Initially, Google will allow many Web3 (decentralized and blockchain-based web) customers to pay for Google Cloud Platform services in cryptocurrency, CNBC said citing Google Cloud vice president and general manager and responsible of the platform, Amit Zavery.

But later, this possibility of paying in cryptocurrencies will be extended to more customers. Currently, there is no mention of consumer services.

“Over time, Google will enable many more customers to make cryptocurrency payments,” said Amit Zavery, vice president and general manager and chief platform officer at Google Cloud, in an interview with CNBC.

A competitive advantage for Google

As a reminder, Google will use the Coinbase Commerce platform to accept crypto payments to support more than a dozen cryptocurrencies including Bitcoin, Bitcoin Cash, Dogecoin, Ethereum, and Litecoin.

We also know that Coinbase will receive a commission on these transactions. In return, cryptocurrency exchanges will start using Google’s cloud platform instead of years of Amazon Web Services.

Additionally, Google intends to use Coinbase Prime to test cryptocurrency custody services. Amit Zavery said, “We will see how we can get involved” in crypto asset management.

Apart from the news that will make the crypto market happy, this agreement should better position Google Cloud compared to its competitors, even if it only covers a part of Google’s activities.

In fact, by accepting cryptocurrencies, Google offers payment options that competitors cannot. Google really should be better suited to businesses that generate revenue in cryptocurrencies, so they won’t need to convert those cryptocurrencies to pay for their cloud services.

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Google and Coinbase are teaming up to offer crypto services!


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