While Coinbase stated that it would use Google’s cloud infrastructure, Google stated that it will rely on Coinbase to begin allowing some users to pay for cloud services using cryptocurrencies early in 2023.
In a competitive, quickly expanding sector where Google’s leading competitors do not now allow customers to pay with digital currencies, the agreement, which was revealed at Google’s Cloud Next conference, may be successful in bringing cutting-edge enterprises to Google. Since it is growing more swiftly than Alphabet as a whole, the cloud business, which helps diversify Google parent Alphabet away from advertising, currently accounts for 9% of revenue, up from less than 6% three years ago.
Thanks to an interface with the Coinbase Commerce service, the Google Cloud Platform infrastructure service will initially accept cloud payments from a small number of customers in the Web3 world who want to pay with cryptocurrency.
Google will eventually permit a lot more users to purchase with cryptocurrencies. Ten currencies are supported by Coinbase Commerce.