By Nathan Ferguson
Google declared a unique contract carried out with Coinbase to permit a chosen set of clients to recompense for the cloud services thereof via the utilization of digital assets like Ether (ETH) and Bitcoin (BTC). The respective move will be implemented at the start of the coming year.
Google and Coinbase Join Hands for a New Partnership to Offer Crypto Payments for Cloud Services
The tech platform additionally made a strategy to utilize Coinbase Prime (considered to be a custodial service to facilitate the trading as well as the storage of the crypto assets. As included in the contract, Coinbase declared to shift a particular amount of the data regarding its applications – previously kept with the utilization of Amazon Web Services – to Google Cloud.
As stated by Amit Zavery (Google Cloud’s head, general manager, and vice president), the platform will accept crypto payments just from a group of specific clients, who are in advance active within the Web3 world, through its integration with Coinbase Commerce. Zavery added that with time many other customers will also be permitted to avail of the respective service.
At present, Coinbase Commerce offers payments made with ten crypto tokens among which the prominent ones are Litecoin (LTC), Ether (ETH), Dogecoin (DOGE), Bitcoin Cash (BCH), and Bitcoin (BTC). Coinbase’s vice president for business development, Jim Migdal, mentioned that the well-known American crypto exchange has been in talks with Google for months regarding payment services and cloud usage.
Google Could Continues Its Crypto Contracts
Though no details have been provided by Coinbase regarding the respective contract, a specific proportion of the transfers facilitated by it will be taken, just as the case with the rest of the deals carried out by Coinbase Commerce. This development is witnessed following another Web3 collaboration that was declared on 4th October.
That partnership took into account Near Protocol and Google Cloud Services. Near Foundation disclosed that technical support would be provided by Google Cloud to the grant receipts of Near. In September this year, BNB Chain additionally partnered up with Google Cloud and offered an ecosystem for the builders to access the cloud services thereof.
In this case, Google Cloud has been showing remarkable progress to expand its presence across the Web3 sector since it published a blog post on 27th January, revealing that it will introduce a whole internal group to deal with digital assets.