Google and Coinbase partner up to expand Web3 ecosystem
Google Cloud and Coinbase have joind forces to accelerate the Web3 ecosystem by launching a new crypto payments pilot programme.
The collaboration involves Coinbase building their global data platform on Google Cloud and Google Cloud leveraging Coinbase Commerce to enable crypto payments for its solutions.
Coinbase will manage crypto payments for Google Cloud services
According to reports, Coinbase will migrate Coinbase workloads to Google Cloud to create advanced exchange and data services, and provide Coinbase customers with machine learning-driven crypto insights powered by BigQuery and VertexAI.
The new pilot programme will enable crypto payments for cloud services, with Google Cloud allowing a select number of customers in the Web3 ecosystem, to purchase its cloud services through certain cryptocurrencies via Coinbase Commerce.
Reports suggest Google Cloud will use Coinbase Cloud Node to drive its BigQuery crypto public datasets across multiple key blockchains, including Ethereum, Bitcoin, and others. And in terms of digital asset custody, Google is using Coinbase Prime as its crypto broker and custodian.
Google Cloud and Coinbase pilot programme to develop Web3
The new pilot programme will enable Web3 developers to instantly and reliably operate Web3-based systems without the need for expensive and complex infrastructure. Speaking about this latest development, Brian Armstrong, Co-founder and CEO of Coinbase, explained, “We are excited Google Cloud has selected Coinbase to help bring Web3 to a new set of users and provide powerful solutions to developers.”
He continued, “With more than 100 million verified users and 14,500 institutional clients, Coinbase has spent more than a decade building industry-leading products on top of blockchain technology. We could not ask for a better partner to help execute our vision of building a trusted bridge into the Web3 ecosystem.”
Thomas Kurian, CEO of Google Cloud, said, “We want to make building in Web3 faster and easier, and this partnership with Coinbase helps developers get one step closer to that goal,” said “We’re proud Coinbase has chosen Google Cloud as its strategic cloud partner, and we’re ready to serve the thriving global Web3 customer and partner ecosystem.”
He added, “Our focus is making it frictionless for all customers to take advantage of our scalability, reliability, security, and data services, so they can focus on innovation in the Web3 space.”
- Whatsapp compliance platform LeapXpert raises another $22mnFinancial Services (FinServ)
- ESG-focused fintech Spiral raises $28mn to launch B2B modelSustainability
- What Trust Payments' Alison Conway looks for from innovationDigital Payments
- Fintech data wars risk harming small businessesFinancial Services (FinServ)