by Google and Coinbase (NASDAQ: COIN) have formed a new strategic partnership to accelerate Web3 adoption and innovation. Coinbase is one of the industry-leading platforms where you can buy popular coins like Bitcoin, Ethereum, Solana, Doge, and much more.
With this new strategic partnership, Coinbase looks to leverage Google Cloud’s infrastructure to process blockchain data at a much larger scale and enhance the global reach of its crypto services.
Four key points mentioned in this partnership include:
- Starting with the Web3 ecosystem, Google Cloud will allow consumers to pay for its cloud services using select cryptocurrencies within the Coinbase Commerce platform.
- Web3 developers will have access to Google Cloud’s blockchain data through BigQuery.
- Google will use Coinbase Prime for institutional crypto services such as secure custody and reporting.
- Coinbase will build its data platform on Google Cloud’s infrastructure, leveraging Google’s data and analytics to provide users with machine learning crypto insights.
“We are excited Google Cloud has selected Coinbase to help bring Web3 to a new set of users and provide powerful solutions to developers.”, “We could not ask for a better partner to help execute our vision of building a trusted bridge into the Web3 ecosystem.” said Brian Armstrong, Co-founder, and CEO of Coinbase.
The partnership aims to make building Web3 faster and easier. “Our focus is making it frictionless for all customers to take advantage of our scalability, reliability, security, and data services, so they can focus on innovation in the Web3 space,” said Thomas Kurian, CEO of Google Cloud
As Crypto winter continues, big tech companies such as Google are positioning themselves to be leaders in the Web3 industry.
Shares of Coinbase (NASDAQ: COIN) close at $70.16 (+4.65%) at the time of this writing.
