Coinbase tapped by Google for crypto payments
In a boost for the cryptocurrency world, tech goliath Google announced plans to allow some customers to pay for cloud services using Coinbase, a leading crypto exchange platform. The announcement from Google gave crypto a much-needed kick after an overall rough year.
The rollout will begin with access solely to those customers working in the Web3 industry, allowing selected people to use Coinbase to pay for cloud services. The process will be carried out under the watchful eye of Coinbase. Thomas Kurian, the CEO of Google Cloud, hailed the progress in accelerating Web3 growth.
“We want to make Web3 building faster and easier, and this partnership with Coinbase helps developers come one step closer to that goal.”
A senior analyst at Oppenheimer, a leading full-service brokerage and investment bank worldwide, foresaw the Google and Coinbase agreement to be the first of many partnerships to come. He predicts that traditional businesses will align themselves more frequently with modern crypto payment methods as a way to process transactions going forward.
“As the crypto economy expands in the longer term, Coinbase will look more like an integrated digital asset enabler than a pure-play crypto exchange.”
Nation Thailand reported on the new partnership which gave Coinbase stock an instant jolt. The popular crypto exchange platform saw shares jump up 8.4% yesterday when the news broke of the new Google Cloud agreement. But with the huge dip in the crypto market this year, Coinbase stock is still down over 70% for 2022.
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