By Mark Ackman
Google seems to have helped the sinking ship of cryptocurrencies by offering a great deal to Coinbase. One of the largest tech companies in the entire world has recently signed an agreement with Coinbase to offer cryptocurrency payments to users.
Google to Offer Crypto Payments Access
The details confirm that Google has signed a new agreement with Coinbase that would enable the tech giant to offer users access to making crypto payments.
It has been confirmed that Google will enable the feature of making crypto payments via its cloud services.
Once the necessary arrangements have been made, the particular crypto payments service would be integrated with Google’s cloud services.
Cryptocurrencies Google is to Offer
It has been confirmed that Google does not want to go all out offering all kinds of cryptocurrencies in the initial round. Instead, Google wants to take things slowly and play them safe in order to get to know what the cloud community thinks.
Google is only aiming to go with a small list of cryptocurrencies that includes Ether (ETH) and Bitcoin (BTC).
However, the cryptocurrency community wanting to access crypto payments via Google’s cloud services would need to wait a while. The reports confirm that Google is planning to implement the new facility for users in the year 2023.
The teams collaborating from Google and Coinbase have confirmed that their goal is to introduce the new service in the early part of the year 2023.
Google to Strengthen Partnership with Coinbase
On October 11, the officials at Google announced that they were excited to have formed a deal with Coinbase. Their goal is to offer their users as many safe and protected utilities as possible that involve cryptocurrencies.
For this purpose, they would continue strengthening their partnership with Coinbase over time. The officials announced that they are also aiming to explore the Coinbase Prime service offered by Coinbase.
It is known for being a highly advantageous service for users, letting them trade and store cryptocurrencies.
Coinbase to Rely More on Google
Coinbase has also made a major announcement from its end apart from offering crypto payment services to Google.
Coinbase officials have revealed that they will start relying more on Google’s Google Cloud service. Therefore, it would start moving its data-related applications to Google Cloud.
At present, the data-related applications managed by Coinbase are present on Amazon Web Service (AWS).
The announcement by Google Cloud’s Head
The head of Google Cloud, Amit Zavery provided more clarity on the deal between their company and Coinbase.
He revealed that initially, they would enable cryptocurrency payment services through Google Cloud only for a selected group of clients. These clients would have to be active on Coinbase Commerce allowing them access to Web3.
At the moment, the Coinbase Commerce platform offers access to 10 cryptocurrencies. These cryptocurrencies include Litecoin, Ether, Dogecoin, Bitcoin Cash, Bitcoin, and more.