Google has announced a partnership with the digital currency trading platform Coinbase that will allow some customers of its Google Cloud service to pay in cryptocurrency, in some countries as early as next year 2023, a partnership that Coinbase will enhance by relying on Google cloud services .
The new partnership between Google and Coinbase, which was announced first during the Cloud Next conference earlier this week, will enhance Google’s ability to compete in the cloud services market, where competitors such as Amazon and Microsoft currently do not allow customers to pay with digital currencies, which is what Alphabet helps the parent company of Google diversify its revenue away from advertising, which is the main source of income, which now represents 9% of revenue, compared to 6% three years ago.
Allowing Google Cloud customers to pay with cryptocurrency boosts competition with Amazon and Microsoft
Jim Migdal, Vice President of Business Development at Coinbase, said that the company, which generates most of its revenue by making transfers and financial transactions related to digital currencies through its service, will move to the Google Cloud service, after relying on Amazon cloud services AWS over the past years.
You may also be interested in: What are NFTs or NFTs? How it works? How do you create and sell it?
The company will initially accept payments in digital tokens from a small number of customers in the world, said Amit Zafri, vice president of Google Cloud Services. Web3 Or that develops Web3 applications and services, through integration with Coinbase, to allow more customers later to pay in digital currencies, including Bitcoin, Dogocoin, Ethereum, Litecoin, and others. Zafri said that Google is exploring the possibility of using Coinbase Prime, a service that allows Institutions have secure storage of digital currencies or cryptocurrencies, and they also allow them to execute trades or manage assets directly.
Google Cloud Google Cloud provides cloud services for organizations and companies, so that you can rely on Google’s infrastructure to implement software projects or run applications and services, and it also offers various solutions for data processing for government, educational, financial, health, gaming services, e-commerce and others. The New York Times uses, for example Example Google Cloud services to digitize their photo archive,
For your information: