The collaboration involves Coinbase establishing their global data platform on Google Cloud, as well as Google Cloud utilizing Coinbase Commerce to provide cryptocurrency payments for its solutions.
Today, Google Cloud and Coinbase announced a new long-term strategic partnership to better serve the growing Web3 ecosystem and its developers.
This partnership will involve Coinbase selecting Google Cloud as a strategic cloud provider to build advanced trading and data services. Coinbase will use Google Cloud’s powerful computing platform to process blockchain data at scale and enhance the global coverage of its cryptocurrency services by leveraging Google’s premium fiber network. Coinbase will also build its global data platform on Google Cloud’s secure infrastructure and utilize its leading data and analytics technology to provide machine learning-driven cryptocurrency insights for Coinbase customers.
As part of the partnership, Google Cloud is positioned to enable selected customers, starting with those in the Web3 ecosystem, to pay for their cloud services with selected cryptocurrencies. The new payment experience is supported by Coinbase Commerce, which enables global merchants to accept cryptocurrency payments in a decentralized manner, benefiting Google Cloud’s customers and partners by increasing payment options for Google Cloud services.
Through this partnership, Web3 developers will also have access to Google’s BigQuery cryptocurrency public datasets, provided by Coinbase Cloud nodes, spanning leading blockchains. This integration will enable developers to operate Web3-based systems instantly and reliably without the need for expensive and complex infrastructure.
Coinbase Co-founder and CEO Brian Armstrong said, “We are thrilled that Google Cloud has chosen Coinbase to help bring Web3 to new users and provide powerful solutions for developers. With over 100 million verified users and 14,500 institutional clients, Coinbase has spent over a decade building industry-leading products on top of blockchain technology. We couldn’t ask for a better partner to help execute our vision of building a trusted bridge to the Web3 ecosystem.”
Google Cloud CEO Thomas Kurian said, “We want to make it faster and easier to build in Web3, and our partnership with Coinbase helps developers get one step closer to this goal. We are proud that Coinbase has chosen Google Cloud as its strategic cloud partner, and we are ready to serve the thriving global Web3 customer and partner ecosystem. Our focus is to enable all customers to seamlessly leverage our scalability, reliability, security, and data services, allowing them to focus on innovation in the Web3 space.”
Additionally, Google will use Coinbase Prime for institutional cryptocurrency services, such as secure custody and reporting.
About Google Cloud
Google Cloud accelerates every organization’s ability to digitally transform their business. It provides enterprise solutions that leverage Google’s cutting-edge technology – all on the cleanest cloud in the industry. Customers in over 200 countries and territories trust Google Cloud as their partner for growth and to solve their most critical business problems.
About Coinbase
Coinbase is building the cryptoeconomy: a more fair, convenient, efficient, and transparent financial system enabled by cryptocurrency. Founded in 2012 with the radical idea that anyone, anywhere should be able to easily and safely send and receive bitcoin, Coinbase now provides a trusted and user-friendly platform for accessing a broader cryptoeconomy.
Source: Google Cloud
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