Google Cloud partners Coinbase for crypto payments

Coinbase, the largest cryptocurrency exchange in the U.S., has formed a strategic Web 3.0 partnership with Google Cloud, the Nasdaq-listed exchange said in a statement on Tuesday. 

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Fast facts

As part of the partnership, Google Cloud will allow select customers to pay for its cloud services using cryptocurrencies through the exchange’s crypto payments platform, Coinbase Commerce.  Google will also have access to Coinbase Prime for institutional crypto services, like custody. Coinbase has over 14,500 institutional clients, including some of the largest traditional financial firms, the company said in the statement. Coinbase will build its global data platform on Google Cloud’s infrastructure as well as use the data and analytics technologies to provide Coinbase customers with machine learning-driven crypto insights, it said in the statement.Coinbase said it will also use Google Cloud’s compute platform to process blockchain data at scale. 

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