Google teams up with Coinbase to make a major move into cryptocurrency payments

What Google’s partnership with Coinbase entails

In a weblog publish by its Chief Product Officer, Surojit Chatterjee, Coinbase has offered us a glimpse of what this partnership means. The 2 corporations that had been working in very totally different environments have been collaborating for the previous many months and have acknowledged strengths on each side that may very well be helpful to the opposite group.

To start with, beginning early subsequent 12 months, Google Cloud will settle for funds in sure cryptocurrencies utilizing the Coinbase Commerce platform, which permits retailers anyplace on the earth to simply accept cryptocurrency funds. This service might be rolled out to pick customers of Google’s cloud providers which are already concerned within the Web3 trade.

Builders within the Web3 area are additionally in for some excellent news as Google Cloud will present entry to its blockchain information by means of BigQuery, powered utilizing Coinbase’s Cloud Node service. BigQuery is Google’s platform as a service information warehouse that permits customers to question massive information. The partnership will enable builders to function Web3-based programs with out having to personal advanced and costly infrastructure.

Google may also faucet into institutional crypto providers like safe custody and reporting utilizing Coinbase’s platform for institutional shoppers, referred to as Prime. Coinbase claims it has over 14,500 institutional shoppers that use its superior buying and selling platform.

In return, Coinbase will use Google Cloud to construct its trade and information providers and course of blockchain information at scale. Coinbase prospects may also acquire machine-learning-driven crypto insights.