Google Cloud has announced a partnership with Coinbase to promote Web3 innovations including the use of crypto exchanges to accept cryptocurrency payments. Coinbase CEO Brian Armstrong said, “We are pleased that Google Cloud has chosen Coinbase to bring Web3 to a new user base and provide a powerful solution for developers.”
Google Cloud Partners with Coinbase
Alphabet Inc.’s Google Cloud and Nasdaq-listed crypto exchange Coinbase announced Tuesday a “new long-term strategic partnership to better serve the growing Web3 ecosystem and its developers.”
Under the agreement, Coinbase will use Google Cloud to build advanced exchanges, expand data services, and process blockchain data at scale. The exchange will also leverage Google’s fiber optic network to enhance the global reach of its crypto services.
In addition, Coinbase will build a global data platform on Google Cloud infrastructure and leverage the Internet giant’s data and analytics technology to provide machine learning-driven crypto insights to Coinbase customers, the announcement detailed The announcement details.
As part of the partnership, Google Cloud is positioned to enable some of its customers, including customers in the Web3 ecosystem, to pay for its cloud services via cryptocurrency of their choice.
In addition, Google’s Bigquery crypto public datasets will be provided by Coinbase Cloud Nodes across major blockchains accessible to Web3 developers.
Coinbase CEO Brian Armstrong commented:” We are pleased that Google Cloud has chosen Coinbase to bring Web3 to new users and provide a powerful solution for developers…. . with over 100 million authenticated users and 14,500 institutional customers, Coinbase has spent over a decade building industry-leading products on top of blockchain technology.”
Thomas Kurian, CEO of Google Cloud, weighed in.” We want to make building on Web3 faster and easier, and this partnership with Coinbase will help developers get one step closer to that goal.”
The announcement further notes.
Google will use Coinbase Prime for institutional crypto services such as secure custody and reporting.
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