The search giant, Google has partnered with Coinbase, a renowned cryptocurrency exchange platform to bring new innovation, and with web3 technology. Google plans to add a crypto-based payment option for their Cloud service customers so that they can pay subscription fees in crypto.
This is arguably one of the best crypto news in 2022 and not only will it benefits Google Cloud customers, but Web3 developers will also be able to take advantage of the partnership to build products faster and easier.
Crypto-based Payment Is Coming To Google Cloud
The announcement from Coinbase states that Google selected three main segments and tools to accomplish the required outcome: Coinbase Commerce, Coinbase Cloud Node, and Coinbase Prime.
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But in order to receive payments in cryptocurrencies, Coinbase Commerce is the most important tool since it is able to convert cryptocurrency and transfer it. To start, the CNBC report states that Coinbase will also charge a service fee for transactions made through its commerce platform.
Bitcoin, Ethereum, USD Coin, Tether USD, Dogecoin, Shiba Inu, and many others will be supported. In addition to the partnership, Google Cloud also adopted Coinbase Cloud Note, allowing developers to manage the Web3-based system and blockchain data stored on Google Cloud.
The company is open to providing new ideas and finding ways to do this by employing Web3 technologies. The company will receive Coinbase Prime’s help, so Coinbase calls it a safe custody.
Finally, a CNBC report says that Coinbase will be moving some of its applications to Google Cloud from Amazon Web Services and customers will have the option to utilize this service early next year.