Google partners with Coinbase in crypto payments, cloud service
Google Cloud, Google’s cloud business unit, and Coinbase, a leading crypto asset exchange, announced on October 11 that they have formed a strategic partnership aimed at speeding up Web3 adoption and innovation.
The partnership will first see select users of Google Cloud be able to pay for its services via select crypto currencies through Coinbase Commerce, Coinbase’s crypto asset payment service.
Secondly, Web3 developers can access Google Cloud’s blockchain data through BigQuery in a new offering powered by Coinbase Cloud’s Node service. The integration will allow developers to operate Web3 systems without having to build expensive and complex infrastructure.
Google will also use Coinbase Prime, a service for managing crypto assets, to handle institutional crypto assets such as secure custody and reporting.
Finally, Coinbase has selected Google Cloud as a strategic cloud provider to build advanced exchange and data services. It will use Google Cloud’s platform to process blockchain data at scale, and enhance the global reach of its crypto services by leveraging Google’s premium fiber-optic network. Coinbase will also build its global data platform on Google Cloud’s infrastructure and leverage their leading data and analytics technologies to provide Coinbase customers with machine learning-driven crypto insights.
On the partnership, Coinbase said in a statement: “Over the course of our conversations with the Google Cloud team, we were impressed by their commitment to security and compliance, their history of supporting open source projects, and the robustness of their compute platform.”