Google to Accept Crypto for Cloud Services: Partners with Coinbase
October 11, 2022
Google will start accepting cryptocurrency payments for certain services as of next year.
The US multinational tech giant said it chose Coinbase to allow certain customers to pay for cloud services starting next year.
This will be enabled by integrating the Coinbase Commerce service, Google said.
- Citing the announcement made during Google’s Cloud Next conference, the CNBC report noted that the move is expected to see the light of day in early 2023.
- Jim Migdal, the crypto exchange’s vice president of business development, said Coinbase will move data-related apps to Google from the market leader Amazon (Web Services cloud). The company has worked with the latter for years.
- Google will initially accept crypto payments only from a small portion of its customer base, which will be available due to an integration of the Coinbase Commerce service, but more people will be able to join later.
- Amit Zavery, Google Cloud’s vice president, general manager, and head of the platform, commented that the idea is to welcome participants who want to explore the growing Web 3 trend.
- Coinbase Commerce currently supports ten digital assets, including the largest and most popular ones – Bitcoin, Ethereum, Litecoin, Dogecoin, Bitcoin Cash, and others.
- Although there are no more details about the terms of the deal, the crypto exchange typically gets a percentage of all transaction fees that go through the Coinbase Commerce system.