Coinbase has announced a partnership with Google Cloud for cryptocurrency-based service payments.
This comes after Google partnered with Coinbase to allow a select group of customers to make Bitcoin, Ether, and Dogecoin payments.
Through this partnership, Coinbase will be able to choose Google Cloud as a strategic cloud provider for the development of new exchange and data services. At scale, Coinbase will process blockchain data at scale using Google Cloud’s powerful computing platform, and it will expand the global reach of its crypto services by leveraging Google’s premium fiber-optic network. Coinbase will also build its global data platform on Google Cloud’s secure infrastructure, leveraging Google Cloud’s leading data and analytics technologies to give its customers crypto insights based on machine learning.
According to the two partners, the goal of this strategic alliance is to better serve the growing Web3 ecosystem and its developers.
Through this collaboration, Web3 developers will be able to access Google’s BigQuery crypto public datasets across leading blockchains, which will be powered by Coinbase Cloud Nodes. The integration will enable developers to run Web3-based systems instantly and reliably without the need for costly and complex infrastructure.
“We are thrilled that Google Cloud has chosen Coinbase to help bring Web3 to a new set of users and provide powerful solutions to developers,” said Brian Armstrong, Coinbase’s Co-founder and CEO. “Coinbase has spent more than a decade building industry-leading products on top of blockchain technology, with over 100 million verified users and 14,500 institutional clients.” We couldn’t have asked for a better partner to assist us in carrying out our vision of creating a trusted bridge into the Web3 ecosystem.”
“We want to make Web3 development faster and easier, and this partnership with Coinbase brings us one step closer to that goal,” said Thomas Kurian, CEO of Google Cloud. “We are honored that Coinbase has selected Google Cloud as its strategic cloud partner, and we are eager to serve the thriving global Web3 customer and partner ecosystem. Our goal is to make it as easy as possible for all customers to use our scalability, reliability, security, and data services, so they can focus on innovation in the Web3 space.”
Google will also use Coinbase Prime for institutional crypto services such as secure custody and reporting.