July 18, 2024


Google has teamed up with crypto exchange Coinbase to allow some of its clients to pay for cloud services using cryptocurrencies.

The strategic partnership also seeks to cater for the needs of the growing Web3 ecosystem. For instance, developers will have the chance to reliably and instantly operate Web3 networks, eliminating the need for complex and expensive infrastructure. 

The collaboration will also see Google Cloud serve as Coinbase’s strategic cloud provider to boost enhanced exchange and data services. Per the report:

“Coinbase will use Google Cloud’s powerful compute platform to process blockchain data at scale, and enhance the global reach of its crypto services by leveraging Google’s premium fiber-optic network.”

Furthermore, Coinbase’s clients will leverage Google Cloud’s data and analytics technologies for machine learning-driven crypto insights.

Brian Armstrong, the CEO and co-founder of Coinbase, welcomed the strategic collaboration and said, “We are excited Google Cloud has selected Coinbase to help bring Web3 to a new set of users and provide powerful solutions to developers.”:

“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.”

On his part, Thomas Kurian, Google Cloud CEO, noted that the partnership would be a stepping stone toward creating an easier and faster Web3. 

He said that this would happen in a frictionless way because developers would take advantage of the data services, security, reliability, and scalability rendered.

Kurian added:

“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.”

Google set the ball rolling in Web3 after it assembled a team to create services for developers earlier this year. 

Google sought to tap the potential presented by the crypto space, given that Web3 Pioneers have developed peer-to-peer and decentralized systems intended to transform the internet, Blockchain.News reported. 

Image source: Shutterstock


Source link