Google and Coinbase announced a collaboration that will allow some Google Cloud clients to pay with cryptocurrency, starting with web3 companies. However, the deal isn’t limited to accepting crypto payments. Coinbase also mentioned that Google would use Coinbase Prime for institutional crypto services, like secure custody and reporting. 

Users of Google Cloud will now be able to pay for services using bitcoin (BTC-USD), ether (ETH-USD), and dogecoin (DOGE-USD). The long-term strategic partnership aims to foster Web3's development ecosystem.

Amit Zavery, Head of Platform at Google Cloud, said somewhat cryptically that this is to “see how we can participate” with managing cryptocurrency assets, talking to CNBC. The TV station assumed this was intended to diversify Google’s treasury assets into crypto. 

Here are the key components of what the Coinbase-Google partnership will entail:

- Google Cloud customers can pay with Crypto
- Coinbase Prime will enable Google to offer custody, reporting, and staking services
- Coinbase to use Google Cloud compute to provide high-speed Blockchain analytics

Google Cloud has been actively developing its presence in the Web3 sector since announcing in January it will launch an entire internal team dedicated to digital assets.

RELATED ARTICLESMORE FROM AUTHOR