According to a CNBC report, internet giant Google today announced that it will use Coinbase to accept cryptocurrency payments for cloud services in the early part of 2019. Google announced at this year’s Cloud Next conference, where it makes presentations about its cutting-edge cloud computing business. A “handful” of Google’s customers will be able to use Coinbase Commerce to pay for their cloud services using cryptocurrencies like Bitcoin and Ethereum, according to Google Cloud Vice President and General Manager, Amit Zavery.
“Data-related applications” are anticipated to be transferred from Amazon Web Services’ cloud to Google’s via Coinbase Commerce.
Although the specifics of the agreement have not been made public, Jim Migdal, Vice President of Business Development at Coinbase, claims that it will operate similarly to other Coinbase Commerce agreements by giving his company a cut of each transaction that passes through the system.
Ten cryptocurrencies, including Bitcoin, Ethereum, Dogecoin, and Tether, are currently supported by Coinbase Commerce.
Additionally, according to CNBC, there “wasn’t a guarantee” that Google would continue using Coinbase for payment processing, and there is competition from a recently launched PayPal business service with cryptocurrency integration.
But for now, it seems that the San Francisco-based cryptocurrency exchange is the best option.
In the Web3 arms race, Google has kept its cards close to its chest, unlike Facebook, which changed its name to Meta last year, but recent reports suggest that the company’s initially chilly attitude toward cryptocurrencies is thawing.
Sky Mavis and Google Cloud last month came to an agreement that allows the cloud division of the tech giant to operate a validator node on the Ronin Network, an Ethereum sidechain created by Sky Mavis, the creator of Axie Infinity.
The action aims to further decentralize Ronin and give Google the ability to assist with sidechain security and transaction processing. A historic $622 million theft took place earlier this year, using the Ronin bridge as a cover.
The countdown to Ethereum’s significant upgrade, known as the merge, was also marked by Google with a small graphic that showed up for anyone searching for “Ethereum merge.” The small gesture conveys a lot about the level of acceptance that cryptocurrency is currently receiving.
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