Applications and Use Cases

Google Cloud and Coinbase Drive Web3 Innovation

October 18, 2022

Blockchain technologies grew as a priority for Google’s cloud division in 2022. In May, Google formed a Web3 team to capitalize on the growing cryptocurrency popularity, and Google teamed up with BNB Chain in September to advance the growth of Web3 and blockchain projects.

Continuing its focus on blockchain technologies, Google revealed that Coinbase selected Google Cloud as a strategic cloud provider to build advanced exchange and data services.

The partnership will allow Google Cloud to enable select customers, mostly starting with those in the Web3 ecosystem, to pay for its cloud services via select cryptocurrencies. The new payments experience through Coinbase Commerce will benefit Google Cloud's customers and partners by increasing payment options for Google Cloud services. Coinbase Commerce supports 10 currencies, including Bitcoin, Bitcoin Cash, Dogecoin, Ethereum and Litecoin, and lets merchants globally accept decentralized cryptocurrency payments.

Web3 developers will also have access Google's BigQuery crypto public datasets, which will be powered by Coinbase Cloud Nodes. The integration will allow developers to instantly and reliably operate Web3-based systems without the need for expensive and complex infrastructure.

Additionally, Google will use Coinbase Prime, an integrated solution that provides secure custody, an advanced trading platform and prime services to manage crypto assets in one place.

"We're ready to serve the thriving global Web3 customer and partner ecosystem,” said Thomas Kurian, CEO of Google Cloud. “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."

Of course, Google isn’t the only one benefiting from the partnership. The collaboration will allow Coinbase to use Google Cloud's compute platform to process blockchain data at scale and enhance the global reach of its crypto services by leveraging Google's premium fiber-optic network.

Coinbase will also build its global data platform on Google Cloud's secure infrastructure and leverage its data and analytics technologies to provide Coinbase customers with machine learning-driven crypto insights.

"With more than 100 million verified users and 14,500 institutional clients, Coinbase has spent more than a decade building products on top of blockchain technology,” said Brian Armstrong, co-founder and CEO of Coinbase. “We could not ask for a better partner to help execute our vision of building a trusted bridge into the Web3 ecosystem."

Coinbase building its global data platform on Google Cloud and Google Cloud leveraging Coinbase Commerce to enable crypto payments for its solutions will result in, as Kurian said, a step closer to make building in Web3 faster and easier.

Edited by Erik Linask

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