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Coinbase\u2019s Commerce product will enable specific Google Cloud customers to pay for cloud services using several cryptocurrencies.<\/strong><\/p>\n Web3 developers<\/a>\u00a0will also be able to access Google\u2019s public blockchain datasets through Coinbase\u2019s recently announced Cloud Node<\/a> technology stack. Coinbase will also provide Google with institutional-grade custodial and trading services through Coinbase Prime.<\/p>\n According to a press release, Coinbase will leverage the machine learning prowess of Google\u2019s compute engine and fiber-optic infrastructure to provide an ever-expanding customer base with trading insights powered by big data analytics. Google holds the transaction histories of the Bitcoin<\/a>, Ethereum<\/a>, Litecoin<\/a>, Zcash<\/a>, Hedera Hashgraph<\/a>, and Dogecoin<\/a> blockchains, which are accessible from a multi-cloud data warehouse called BigQuery.<\/p>\n Coinbase will also use Google\u2019s services to help it build its exchange services and move specific Commerce-related applications from Amazon Web Services to Google.<\/p>\n \u201cWe could not ask for a better partner to help execute our vision of building a trusted bridge into the Web3 ecosystem,\u201d\u00a0said<\/a>\u00a0Coinbase CEO Brian Armstrong.<\/p>\n Google is no stranger to providing scalable cloud infrastructure to Web3 companies. Dapper Labs, the company behind the famous NFT collection NBA Top Shot, brought Google on board in 2021 as the cloud provider for its growing ecosystem of products that live on the Flow blockchain.<\/p>\n The Hedera network, which recently\u00a0onboarded<\/a>\u00a0the U.K. asset management firm Abrdn onto its Governing Council, uses Google\u2019s premium, low-latency fiber optic network to ensure stability and maximum uptime of the Hedera distributed ledger. Hedera also\u00a0uses<\/a>\u00a0Google cloud for its public testnets.<\/p>\n While there has been no indication which cryptocurrencies Google will accept, a peek at Coinbase Commerce\u2019s\u00a0website<\/a>\u00a0reveals that the platform supports payments in Bitcoin, Ethereum, USDC, USDT, ApeCoin, Bitcoin Cash<\/a>, DAI<\/a>, Dogecoin, Litecoin, and Shiba Inu. Amounts received in crypto are deposited into the merchant\u2019s account, from which it can withdraw and the funds converted to fiat.<\/p>\n Google\u2019s acceptance of crypto payments is a significant step in advancing its adoption of cryptocurrencies and Web3 technologies. Initially, the company was reluctant to give the crypto industry real estate on its platform.\u00a0<\/p>\n In June 2018, it\u00a0banned<\/a>\u00a0advertisements<\/a>\u00a0for initial coin offerings, crypto wallets, and crypto exchanges, citing significant consumer harm.<\/p>\n In a July 2022\u00a0policy revision<\/a>, the company maintained that any business that allows for exchanging, purchasing, or holding crypto was not allowed to advertise on Google. This ban included advertisements for businesses offering crypto payments and crypto mining hardware. Crypto exchanges and wallet<\/a> advertisements are allowed, subject to compliance with local laws.<\/p>\n The company also said that advertisements for crypto exchanges are allowed in Canada, the United Arab Emirates, Thailand, and Hong Kong. In contrast, advertisements for exchanges and wallets are permitted in Israel, Japan, the United States, France, Germany, the Philippines, and South Korea, all subject to Google certification.\u00a0<\/p>\n Following the announcement of its partnership with Coinbase, Coinbase\u2019s stock price rose 4% and is now touching the $70 mark.<\/p>\n For Be[In]Crypto\u2019s latest\u00a0Bitcoin<\/a>\u00a0(BTC) analysis,\u00a0click here<\/a><\/strong><\/p>\n All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.<\/p>\n<\/p><\/div>\nGoogle Cloud to help Coinbase build advanced services<\/h2>\n
Google\u2019s acceptance of crypto marks an about-face<\/h2>\n
Disclaimer<\/h3>\n