Google Cloud to let users pay with Cryptocurrencies soon
Google will begin accepting cryptocurrency payments for cloud services in early 2023.
Google announced Tuesday at its Cloud Next conference that it will accept crypto payments through integration with crypto exchange Coinbase.
The tech giant will let users pay With Bitcoin, Ethereum, Tether, and Dogecoin by early next year.
The announcement came during Google’s Cloud Next conference, which began last night. The conference, as the name implies, is home to Google’s cutting-edge cloud computing business, which accounts for roughly a tenth of the company’s total revenue.
The deal with Coinbase allows Google to fill a market gap by allowing crypto companies to pay for cloud storage with digital currency.
According to Google Cloud Vice President and General Manager Amit Zavery, the company will begin accepting crypto payments from a “handful” of customers via integration with Coinbase Commerce, a payments tool for businesses.
With this deal, Coinbase Commerce is expected to transfer “data-related applications” from Amazon Web Services to the Google Cloud Platform.
Currently, Coinbase is supporting ten cryptocurrencies including Bitcoin, Ethereum, Dogecoin, and Tether.
“We couldn’t ask for a better partner to help us execute our vision of building a trusted bridge into the Web3 ecosystem,” said Brian Armstrong, co-founder, and CEO of Coinbase.
Coinbase shares were up more than 6% at $71.32 in afternoon trading on Tuesday.