According to Google, beginning in the first quarter of 2019, users will be able to pay for cloud services using Coinbase and cryptocurrencies like Bitcoin and Ether.
A new agreement between Google and Coinbase will enable a small number of users to pay for Google’s cloud services using cryptocurrencies like Bitcoin and Ether (BTC tickers down $19,037 and $1,283, respectively). It will go into effect at the start of 2019.
The internet giant is to investigate using Coinbase Prime, a custodial service for holding and trading bitcoins, according to CNBC on October 11.
Coinbase responded by announcing that it would transfer certain of its data-related applications that were previously kept on Amazon Web Services.
Amit Zavery, vice president, general manager, and head of the platform at Google Cloud, stated that initially, only a small number of clients that are already active in Web3 will be able to make cryptocurrency payments using the Coinbase Commerce connection.
Zavery added that more of its customers would eventually have access to the service.
Ten cryptocurrencies, including Bitcoin, Bitcoin Cash (BCH tickers down $111), Dogecoin (DOGE tickers down $0.06), Ether, and Litecoin (LTC tickers down $51.79), are currently supported by Coinbase Commerce.
Jim Migdal, Coinbase’s vice president of business development, said the company has been in talks with Google for months concerning payments, its Prime service, and cloud usage.
While the specifics of the agreement are kept confidential, Coinbase will, as it does with previous Coinbase Commerce agreements, take a cut of the transactions it facilitates.
This development follows the Oct. 4 announcement of yet another new Web3 agreement, this one combining Google Cloud Services and Near Protocol. According to the Near Foundation’s statement, Google Cloud would provide grant applicants with “technical support”.
BNB Chain also disclosed a partnership with Google Cloud in September to give ecosystem builders access to its cloud services.
Since announcing that it will create a whole internal team solely focused on digital assets in a blog post on January 27, Google Cloud has been actively expanding its footprint in the Web3 realm.