Google is to start accepting cryptocurrency payments for its cloud services.
This week the search giant announced a partnership with cryptocurrency exchange company Coinbase.
Google Cloud said it will enable “select customers”, starting with those “in the Web3 ecosystem”, to pay for cloud services via select cryptocurrencies.
Payments will be done through Coinbase Commerce; a crypto-payment service for merchants from Coinbase. Google will also use Coinbase Prime, for institutional crypto services, like secure custody and reporting.
The new payment method will go live early next year and Google plans to roll it out to other customers in the future. Terms of the deal weren’t disclosed, and details about which companies qualify to pay via crypto weren’t shared. Coinbase Commerce currently supports Bitcoin, Bitcoin Cash, DAI, Ethereum, Litecoin, Dogecoin, and USD Coin.
“We are excited Google Cloud has selected Coinbase to help bring Web3 to a new set of users and provide powerful solutions to developers,” said Brian Armstrong, co-founder and CEO of Coinbase. “With more than 100 million verified users and 14,500 institutional clients, Coinbase has spent more than a decade building industry-leading products on top of blockchain technology. We could not ask for a better partner to help execute our vision of building a trusted bridge into the Web3 ecosystem.”
As part of the deal, Coinbase has selected Google Cloud as a strategic cloud provider to build exchange and data services, and will use Google Cloud’s compute platform to process blockchain data. Coinbase was previously a known AWS customer and will be migrating some of its applications away from the cloud provider.
“We want to make building in Web3 faster and easier, and this partnership with Coinbase helps developers get one step closer to that goal,” said Thomas Kurian, CEO of Google Cloud. “We’re proud Coinbase has chosen Google Cloud as its strategic cloud partner, and we’re ready to serve the thriving global Web3 customer and partner ecosystem. Our focus is making it frictionless for all customers to take advantage of our scalability, reliability, security, and data services, so they can focus on innovation in the Web3 space.” Data Center Dynamics