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Google and Coinbase have partnered to accept cryptocurrency payments for cloud services.

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Google and Coinbase have partnered to accept cryptocurrency payments for cloud services.



Early next year, Google will begin taking cryptocurrency payments for cloud services. 

The tech giant said 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 customers in the Web3 sector will be the first to accept cryptocurrency payments. Google will also use Coinbase Prime, Coinbase's custody service.

According to Thomas Kurian, CEO of Google Cloud, "We want to make working in Web3 faster and easier, and our cooperation with Coinbase lets developers get one step closer to that goal." 

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 offered a countdown timer for Ethereum's most recent transition to proof of stake. 

"We could not ask for a better partner to help execute our vision of developing a trustworthy bridge into the Web3 ecosystem," stated Brian Armstrong, co-founder and CEO of Coinbase.

In Tuesday's afternoon trade, shares of Coinbase were up more than 6%, trading at $71.32. 

"We anticipate further collaborations with established players. Coinbase will appear less like a pure-play crypto exchange and more like an integrated digital asset enabler as the long-term crypto economy grows "said Oppenheimer analyst Owen Lau.

Article Credit: CoinDesk

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