- Google has partnered with Coinbase to accept crypto payments for its cloud services.
- The crypto payment service will be rolled out to select customers early next year.
- Thomas Kurian, CEO of Google Cloud, says the partnership is to make building in Web3 faster and easier.
Google announced on Tuesday, October 11, 2022, that it will start receiving crypto payments via a partnership with Coinbase.
The Vice President, General Manager and Head of the platform at Google Cloud said that cryptocurrency payments would only be open to a select group of customers conversant with Web3.
However, the service will be opened to more people over time.
Coinbase currently accepts payment in 10 cryptocurrencies, including Bitcoin, Ethereum, Litecoin and Dogecoin, through its crypto payment platform, Coinbase Commerce.
According to Thomas Kurian, CEO of Google Cloud, the partnership is to make building in Web3 faster and easier. Coinbase CEO Brian Armstrong said, "we could not ask for a better partner to help execute our vision of building a trusted bridge into the Web3 ecosystem."
However, the partnership has more to it than fostering Web3 development. According to Cointelegraph, in exchange for Google using the crypto company's payment platform, Coinbase will move some of its data, which were initially stored using Amazon Web Services, over to Google Cloud.
Interestingly, Google has partnered with other Web3 companies, such as Near Protocol and Ethereum. Balances on Ethereum can now be checked by searching the address directly from Google.