Coinbase announced it would use Google Cloud infrastructure, while Google said it would rely on Coinbase to start allowing some users to pay for cloud services using <a href="https://www.cryptoknowmics.com/news/5-best-cryptocurrencies-to-invest-in-2022/" target="_blank" rel="noopener">cryptocurrencies</a> early in 2023. Although the price is still down more than 70% for the year, Coinbase shares increased 8.4% on Tuesday.
<h2>Google Cloud Next Conference</h2>
In a competitive, quickly expanding sector where Google's leading competitors do not yet allow customers to pay with digital currencies, the agreement unveiled at the Google Cloud Next conference may bring cutting-edge businesses to Google. The cloud industry's revenue has increased from less than 6% three years ago to 9% due to its faster growth. According to the vice president of business development at Coinbase, Jim Migdal, the company will switch from the industry-leading Amazon Web Services cloud, which Coinbase has long depended on, to Google for data-related applications.
<h2>Google Chooses Coinbase</h2>
The Google Cloud platform infrastructure service will first allow <a href="https://www.cryptoknowmics.com/news/luxor-to-release-derivatives-for-bitcoin-mining-to-hedge-risk/" target="_blank" rel="noopener">Bitcoin</a> payments from a small number of <a href="https://www.cryptoknowmics.com/news/reports-uae-web3-ecosystem-is-home-to-almost-1-5k-organizations/" target="_blank" rel="noopener">Web3</a> clients that wish to do so. According to Zavery, Google will eventually allow many more users to purchase cryptocurrencies. Ten different currencies, including Bitcoin, Bitcoin Cash, Dogecoin, Ethereum, and Litecoin, are supported via <a href="https://commerce.coinbase.com/" target="_blank" rel="nofollow noopener">Coinbase Commerce</a>. Almost the past year, the prices of Bitcoin, Dogecoin, and Ethereum have dropped by over 60%. Google is also looking into how it can use Coinbase Prime, which keeps cryptocurrency for businesses securely and enables them to make trades. Google previously stated that it looked into the prospect of incorporating support for payments made with virtual currencies in May.

Google Cloud business concentrates more on <a href="https://www.cryptoknowmics.com/news/lekki-free-zone-set-to-partner-gluwa-on-blockchain-technology/" target="_blank" rel="noopener">blockchain technology</a>, such as nonfungible tokens or NFTs. Thomas Kurian, head of Google Cloud Division, has previously advocated for expansion in significant sectors, including media and retail. It announced the creation of teams this year to promote blockchain technology and create tools outside developers can use to run blockchain apps.

Google Chooses Coinbase For Crypto Cloud Payments And Custody Tool

Select Web 3.0 developers will be able to use Coinbase Commerce to make cryptocurrency payments on the Google Cloud Platform by the beginning of 2023.

Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

Google Chooses Coinbase For Crypto Cloud Payments And Custody Tool

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