Google Cloud has partnered with popular crypto exchange Coinbase on a long-term initiative. According to the announcement, the development is a strategic partnership aimed at serving the Web 3.0 ecosystem and its developers. The collaboration highlights a new height for Google Cloud involvement with the crypto industry.
The initiative will see Google Cloud emerge as a Cloud provider to design advanced exchange and data services for Coinbase. Also, Coinbase will rely on Google Cloud’s infrastructure to process large blockchain data. Thus, aiding Coinbase in expanding the globalization of its crypto services, as the premium fiber-optic network of Google will play a vital role.
Further, Coinbase will use Google Cloud as the bedrock of its global data. The crypto exchange will employ the analytical technologies and data of Google to offer it’s customers with “machine learning-driven crypto insights. Additionally, Google will incorporate crypto payment for users of its cloud services; this initiative is aimed at Web3 users. The partnership will be beneficial to Google as well.
How the partnership between Coinbase and Google Cloud will boost crypto payment
Through the collaboration, Google Cloud will incorporate Coinbase Commerce. The Coinbase Commerce is a payment platform that aid merchant in allowing crypto pavement in a decentralized manner. Therefore, Google Cloud will rely on this platform to give its users and partners another payment option for its services.
Now, the partnership will avail BigQuery crypto public datasets by Google to Web3 users. The project will be backed by Coinbase Cloud nodes across numerous blockchains. With the innovation, developers can seamlessly use Web3-based systems without “expensive and complex infrastructure.”
Reactions to the project
Meanwhile, the Co-founder of the crypto exchange, Brian Armstrong, has reacted to the collaboration between his firm and Google Cloud. He said, “We are excited Google Cloud has selected Coinbase to help bring Web3 to a new set of users and provide powerful solutions to developers.” Furthermore, the CEO discussed how Coinbase has previously invented solutions that are blockchain oriented.
More so, the CEO of Google Cloud, Thomas Kurian, reflected on the initiative too. “Thomas Kurian said 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.“ Lastly,the CEO said that the firm’s focus is now on making its customers take full advantage of its exceptional services.
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