Early next year, Google will begin taking cryptocurrency payments for cloud services.
The tech giant stated that it will accept cryptocurrency payments through a connection with cryptocurrency exchange Coinbase in a statement made on Tuesday at Google’s Cloud Next conference.
A small number of clients in the Web3 sector will be the first to accept cryptocurrency payments. Google will also utilize Coinbase Prime, Coinbase’s custody service.
According to Thomas Kurian, CEO of Google Cloud, “We aim to make working in Web3 easy and quickly, and our cooperation with Coinbase lets developers go one step closer to that objective.”
Recent developments by the internet giant include the addition of Ethereum wallet balances to Google address searches and a partnership between BNB Chain and Google Cloud to foster the development of early-stage Web3 and blockchain enterprises. The search engine giant furthermore included a countdown timer for Ethereum’s most recent transition to proof of stake.
“We never could ask for a better partner to help execute our goal of developing a trustworthy bridge into the Web3 ecosystem,” stated Brian Armstrong, co-founder, and CEO of Coinbase.
What is Coinbase, if yet unaware?
An American publicly listed firm called Coinbase Global, Inc., doing business as Coinbase, runs a bitcoin trading platform.
All workers at the dispersed corporation Coinbase work remotely, and the business has no physical headquarters. By trading volume, it is the biggest cryptocurrency exchange in the country.
In 2012, Brian Armstrong and Fred Ehrsam launched the business.
Former Airbnb programmer Brian Armstrong established Coinbase in June 2012. Armstrong obtained a $150,000 capital injection and joined in the Y Combinator startup development program. Later on, a veteran trader for Goldman Sachs named Fred Ehrsam joined as a co-founder.
Ben Reeves, a British programmer and co-founder of Blockchain.info, was initially intended to be a member of the Coinbase founding team. However, Reeves and Armstrong split up right before the Y Combinator financing event owing to their divergent opinions on how the Coinbase wallet should function.
Coinbase transactions, unique transactions that put bitcoin into circulation in proof-of-work cryptocurrencies, are the inspiration for the company’s name. The business introduced its services for buying and selling bitcoins using bank transfers in October 2012.
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