Google Cloud and Coinbase have entered into a long-term partnership by joining hands with the main purpose of driving innovation in the Web3 sphere. Both partners look to greatly benefit from the collaboration.
While Coinbase will now be able to build a global data platform, Google Cloud will leverage the services of Coinbase to enable its customers & partners to execute their transactions with select cryptocurrencies.
The Web3 ecosystem is growing, and developers are constantly innovating, requiring more support for growth.
Google Cloud comes as a savior by partnering with Coinbase to act as a strategic cloud provider. This collaboration serves Coinbase well, as it can now proceed with building advanced data and exchange services. Coinbase will further access the computing power of Google Cloud to process blockchain data at a larger scale while reaching out to more users.
Through this partnership, Coinbase looks to leverage two major elements, namely Google’s fiber-optic network and security infrastructure. The network will come in handy when Coinbase attempts to enhance the global reach of its services. The secure infrastructure will form a base for building a global data platform.
On the other hand, Google Cloud will enable its customers and partners to execute payments with select cryptocurrencies at the beginning. The list may expand in the future. However, the collaboration accepts a few cryptocurrencies during the initial days. The payment service will be powered by Coinbase Commerce which also enables merchants across the globe to accept payments in cryptocurrency.
Adding cryptocurrency as a form of payment allows Google Cloud to offer more options to its customers and partners.
Web3 developers, through the collaboration of Google Cloud and Coinbase, will gain access to Google’s BigQuery crypto public datasets. Coinbase Cloud Nodes will power this section. Developers will benefit from this access as it will allow them to instantly operate systems based on Web3 without including infrastructure that is complex & expensive.
Google will also access Coinbase Prime to secure institutional cryptocurrency services, including secure custody & reporting.
Brian Armstrong, a Co-Founder & the Chief Executive Officer of Coinbase, expressed excitement about partnering with Google Cloud emphasizing that the partnership will help bring Web3 to a new set of users. Coinbase has over 100 million users on the platform, with more than 14,500 institutional clients. To gather more information, take a look at the full review on the Coinbase exchange.
Thomas Kurian, the Chief Executive Officer of Google Cloud, said that the venture was proud of being chosen by Coinbase as its strategic cloud partner. Thomas Kurian stated that the focus was on assisting customers in taking full advantage of Google Cloud’s scalability, security, reliability, and data services.
Coinbase started in 2012 to enable users to send and receive Bitcoin. The platform has outgrown that vision to teach the building of the crypto economy.
Google Cloud helps businesses to digitally transform their ventures by delivering enterprise-grade solutions. Its customer base is spread over 200 countries and territories. There’s a lot to look forward to in the Coinbase and Google Cloud collaboration leading to a better, user-friendly crypto ecosystem.
Source: https://www.cryptonewsz.com/google-partners-with-coinbase-for-crypto-cloud-payments/