The deal, announced at Google's Cloud Next conference, might succeed in luring cutting-edge companies to Google in a fierce, fast-growing market, where Google's top competitors do not currently permit clients to pay with digital currencies.
Coinbase, which generates a majority of its revenue from retail transactions, will move data-related applications to Google from the market-leadingWeb Services cloud, which Coinbase has relied on for years, said Jim Migdal, Coinbase's vice president of business development.
The Google Cloud Platform infrastructure service will initially accept cryptocurrency payments from a handful of customers in the Web3 world who want to pay with cryptocurrency, thanks to an integration with the Coinbase Commerce service, said Amit Zavery, vice president and general manager and head of platform at Google Cloud, in an interview with CNBC.
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