Google and Coinbase are joining forces for cryptocurrency payments

Google and Coinbase have joined forces to launch cryptocurrency payments and care for cryptocurrencies that remain the property of the institution. Both giants in their industry plan to integrate stock exchange services with cloud data and thus increase their global reach.

What does Google do? I don’t think you need to explain this to anyone. Although this cooperation is primarily about the Google Cloud service. From 2023, thanks to this service, it will be possible to accept cryptocurrency payments from selected customers on the Web3 platform. Web3 clients will have the priority in using this option. Only with time the service will be available to a wider number of customers. It is worth mentioning that so far Coinbase has used the Amazon Web Services cloud.

Coinbase is a virtual cryptocurrency exchange. The company has been operating on the market since 2012, was founded by Brian Armstrong and has been listed on the stock exchange since 2021. The company is known for its unconventional approach to employees. At the start of the Covid-19 pandemic, Coinbase’s management made the decision to work remotely for all employees, and the company’s headquarters has remained closed since then. The principle of the company is not to get involved in political and social movements. The same is expected of employees. High severance pays were offered to those who did not agree with the company’s policy. And since 2021, the company has made a decision that all employees in the same position, in the same location, receive the same salary offer.

The press release reveals: “The collaboration will be to select Google Cloud as a strategic cloud provider to build advanced data and exchange services. Coinbase will use the powerful Google Cloud computing platform to process blockchain data on a large scale and increase the global reach of its crypto services using the highest quality network. Google Fiber Optic Coinbase will also build its global data platform on top of a secure Google Cloud infrastructure and use its leading data and analytics technologies to provide Coinbase customers with visibility into machine learning-based cryptocurrency data. “

The commencement of this cooperation can be summed up as a step towards the adoption of cryptocurrencies. Well-known brands such as Google and their visible support on the market are a signal for those who are undecided or skeptical to open up to virtual assets. For Coinbase, a partner as large as Google makes this global exchange more competitive.