From next year, users will be able to buy and pay for cloud services from Google using bitcoin or ethereum. To enable payments, Google has partnered with Coinbase.
Google competes with Amazon and Microsoft
The collaboration was announced at Google’s Cloud Next conference. The online search company is trying to update the business through cloud services. Its main competitors are Amazon and Microsoft, two tech giants that do not accept cryptocurrencies.
Google and Coinbase
With this, Google is sending a clear signal that they are ready to sell their cloud services to crypto and blockchain companies.
Coinbase moves from Amazon to Google
This is also a big move for Coinbase. According to Jim Migdal, a business developer at Coinbase, the US crypto exchange has been using Amazon’s cloud for years, but will move all data-related applications to Google.
Coinbase has a service called Coinbase Commerce, aimed at businesses that want to accept crypto payments. Google Cloud Platform will initially accept crypto payments from a small group of customers, according to Google Cloud head Amit Zavery.
Over time, Zavery said, Google will allow more customers to pay with cryptocurrencies. Currently, Coinbase Commerce supports 10 currencies, including Bitcoin, Bitcoin Cash, Dogecoin, Ethereum and Litecoin.
Coinbase is likely to collect a certain percentage of transactions.
When will Google buy crypto currencies?
Google is also exploring Coinbase Prime, a service that securely stores and allows an organisation’s cryptocurrencies to be traded. Perhaps this means Google will publicly announce that they will buy and manage cryptocurrencies through Coinbase Prime.