Coinbase announced it would use Google Cloud infrastructure, while Google said it would rely on Coinbase to start allowing some users to pay for cloud services using cryptocurrencies early in 2023. Although the price is still down more than 70% for the year, Coinbase shares increased 8.4% on Tuesday. Google Cloud Next Conference In a competitive, quickly expanding sector where Google’s leading competitors do not yet allow customers to pay with digital currencies, the agreement unveiled at the Google Cloud Next conference may bring cutting-edge businesses to Google. The cloud industry’s revenue has increased from less than 6% three years ago to 9% due to its faster growth. According to the vice president of business development at Coinbase, Jim Migdal, the company will switch from the industry-leading Amazon Web Services cloud, which Coinbase has long depended on, to Google for data-related applications. Google Chooses Coinbase The Google Cloud platform infrastructure service will first allow Bitcoin payments from a small number of Web3 clients that wish to do so. According to Zavery, Google will eventually allow many more users to purchase cryptocurrencies. Ten different currencies, including Bitcoin, Bitcoin Cash, Dogecoin, Ethereum, and Litecoin, are supported via Coinbase Commerce. Almost the past year, the prices of Bitcoin, Dogecoin, and Ethereum have dropped by over 60%. Google is also looking into how it can use Coinbas...
