Google Cloud and Coinbase Launch New Strategic Partnership to Drive Web3 Innovation
- 11.10.2022 02:40 pm
The collaboration will involve Coinbase selecting Google Cloud as a strategic cloud provider to build an advanced exchange and data services. Coinbase will use Google Cloud's powerful compute platform to process blockchain data at scale, and enhance the global reach of its crypto services by leveraging Google's premium fibre-optic network. Coinbase will also build its global data platform on Google Cloud's secure infrastructure and leverage its leading data and analytics technologies to provide Coinbase customers with machine learning-driven crypto insights.
As part of the partnership, Google Cloud is positioned to enable select customers, starting with those in the Web3 ecosystem, to pay for its cloud services via select cryptocurrencies. Powered by Coinbase Commerce—which enables merchants globally to accept cryptocurrency payments in a decentralized way—the new payments experience will benefit Google Cloud's customers and partners by increasing the optionality of payments for Google Cloud services.
Through this partnership, Web3 developers can also access Google's BigQuery crypto public datasets, which will be powered by Coinbase Cloud Nodes, across leading blockchains. The integration will allow developers to instantly and reliably operate Web3-based systems without the need for expensive and complex infrastructure.
"We are excited Google Cloud has selected Coinbase to help bring Web3 to a new set of users and provide powerful solutions to developers," said Brian Armstrong, Co-founder and CEO of Coinbase. "With more than 100 million verified users and 14,500 institutional clients, Coinbase has spent more than a decade building industry-leading products on top of blockchain technology. We could not ask for a better partner to help execute our vision of building a trusted bridge into the Web3 ecosystem."
"We want to make building in Web3 faster and easier, and this partnership with Coinbase helps developers get one step closer to that goal," said Thomas Kurian, CEO of Google Cloud. "We're proud Coinbase has chosen Google Cloud as its strategic cloud partner, and we're ready to serve the thriving global Web3 customer and partner ecosystem. 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."
In addition, Google will use Coinbase Prime, for institutional crypto services, like secure custody and reporting.