The search engine giant has confirmed the new Google-Coinbase deal.
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This picture taken on November 5, 2018 shows a woman passing a booth of Google at the first China International Import Expo (CIIE) in Shanghai on . (Photo by Johannes EISELE / AFP)
This collaboration was announced on Tuesday, Oct. 11, during the Google Cloud Next conference.
Experts said this partnership could help Google attract more companies to invest in its business.
The new deal between Coinbase and Google will allow cloud service consumers to pay with cryptocurrencies.
Once this start, it will be a great advantage for Google, especially since top competitors don't allow their users to pay with digital coins.
Google-Coinbase Deal to Allow Cloud Users Pay With Crypto
According to CNBC's latest report, Google's cloud service cryptocurrency payment is expected to start as early as 2023.
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In this photo illustration, an image of the Google logo is reflected on the eye of a young man on August 09, 2017 in London, England. Founded in 1995 by Sergey Brin and Larry Page, Google now makes hundreds of products used by billions of people across the globe, from YouTube and Android to Smartbox and Google Search.
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The cloud business of Google is essential since it allows the tech firm to diversify away from advertisements.
As of writing, the company's cloud service covers around 9% of its overall revenue. This is higher compared to its record in 2019, which is less than 6%.
Google's new deal with Coinbase is expected to improve its cloud products.
This is because the crypto exchange platform will bring data-related applications to the search engine giant.
These applications will come from the market-leading Amazon Web Service cloud, the service that Coinbase has been using for the past few years.
Other Details of Google-Coinbase Deal
CoinDesk reported that the new partnership between Google and Coinbase would also allow the search engine giant to take advantage of Coinbase Prime.
"We want to make building in Web3 faster and easier, and this partnership with Coinbase helps developers get one step closer to that goal," said Google Cloud CEO Thomas Kurian.
On the other hand, Coinbase CEO and co-founder Brian Armstrong, stated that they could not ask for a better partner when it comes to executing their business vision.
He was specifically referring to Coinbase's goal to create a trusted platform that will connect users to the Web3 ecosystem.
Recently, we reported the successful launch of the Ethereum Merge event.
Meanwhile, Mastercard's Crypto Secure was rolled out to prevent digital asset scams.
For more news updates about the Google-Coinbase deal and other related business tech topics, keep your tabs open here at TechTimes.
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Written by Griffin Davis
