As part of a strategic partnership, Coinbase will migrate its global data platform to Google Cloud, and Google Cloud will use Coinbase Commerce to facilitate cryptocurrency payments for its cloud services.
Google Cloud is positioning itself to allow certain customers, more specifically those in the Web 3.0 ecosystem, to pay for their cloud services with cryptocurrencies such as bitcoin, ethereum and litecoin. Featuring Coinbase Commerce, which allows merchants around the world to accept cryptocurrency payments in a decentralized way, this new payment method will benefit Google Cloud customers and partners by increasing the variety of payment options for payment solutions.
Happy to announce that Google Cloud has chosen Coinbase to expand their crypto offerings! Today I spoke at #GoogleCloudNext with @ThomasOrTK to introduce Coinbase’s integration with Google Cloud.
— Brian Armstrong (@brian_armstrong) October 11, 2022
Thomas Kurian, CEO of Google Cloud, said:
We want to make web 3.0 faster and easier, and this partnership with Coinbase is helping developers get closer to that goal. We are proud that Coinbase has chosen Google Cloud as a strategic partner and we are ready to serve a thriving global ecosystem of Web 3.0 customers and partners. Our goal is to make it easy for all customers to take advantage of our scalability, reliability, security and data services so they can focus on web 3.0 innovation.
Coinbase will migrate some of its applications from Amazon Web Services to the Google Cloud
Cryptocurrency exchange Coinbase, which derives most of its revenue from retail transactions, will migrate its data-related applications to Google from market-leading cloud service Amazon Web Services, which Coinbase has relied on for years.
Google Cloud and Coinbase Tools
Through a strategic partnership between Google Cloud and Coinbase, Web 3.0 developers will also be able to access Google BigQuery public cryptographic datasets, which will be backed by Coinbase cloud nodes, on the mainstream blockchains. The integration will allow developers to instantly and securely manage Web 3.0-based systems without the need for costly and complex infrastructure. In addition, Google will use Coinbase Prime for institutional crypto services such as secure storage and reporting.