The major technology company Google has today announced a plan that is exciting the crypto market where they intend to partner with crypto exchanges for various applications. Starting early next year, some Google Cloud users will be able to pay for services with cryptocurrency. In a separate partnership, Coinbase will turn to Google Cloud for its operations.
Agreements involving crypto payments could be an important step in crypto adoption, with long-term implications. This announcement is of high importance considering the presence of the giants that are Google and Coinbase.
The announcement of the partnership was made at Google's Cloud Next conference on Tuesday. Based on reports, the crypto payment feature will initially be offered to a select few customers. This will be the first step before expanding this feature to all Google Cloud users. Amit Zavery, a Google executive stated that Google will try crypto payment products from several other companies before focusing on Coinbase.
"Google Cloud Platform infrastructure services will initially accept cryptocurrency payments from a handful of customers in the Web3 world who want to pay with cryptocurrency."
This could be a great opportunity for Coinbase to further expand its user base to institutions. This Google deal comes as the crypto exchange is actively involved in expanding operations outside the U.S. Recently, Coinbase obtained a license for digital payment token services from Singapore's central bank. The development in this South Asian country is in addition to its active operations in several countries in Europe.
