The collaboration includes Coinbase building its global data platform on Google Cloud and Google Cloud using Coinbase Commerce to enable crypto payments for its solutions
SUNNYVALE, CA , October 11, 2022 / PRNewswire / – Today, Google Cloud and Coinbase announced a new, long-term strategic partnership to better serve the growing Web3 ecosystem and its developers.
The collaboration will include Coinbase's selection of Google Cloud as a strategic cloud provider to build advanced exchange and data services. Coinbase will use Google Cloud's powerful computing platform to process blockchain data at scale and enhance the global reach of its crypto services by leveraging Google's premium fiber optic network. Coinbase will also build its global data platform on top of Google Cloud's secure infrastructure and use its leading data and analytics technologies to provide Coinbase customers with machine learning-driven crypto insights.
As part of the partnership, Google Cloud is positioned to enable select customers, starting with those in the Web3 ecosystem, to pay for its cloud services using select cryptocurrencies. Made by Coinbase Commerce — enabling merchants worldwide to accept cryptocurrency payments in a decentralized manner — the new payments experience will benefit Google Cloud customers and partners by increasing the ability to pay for Google Cloud services.
Through this partnership, Web3 developers can also access Google's BigQuery public crypto datasets, which will be powered by Coinbase Cloud Nodes in leading blockchains. The integration will allow developers to immediately and reliably work with Web3-based systems without the need for expensive and complex infrastructure.
"We are thrilled that Google Cloud has chosen Coinbase to help bring Web3 to a new set of users and provide powerful solutions to developers," said Brian Armstrong, Co-Founder and CEO of Coinbase. “With more than 100 million verified users and 14,500 institutional customers, Coinbase has spent more than a decade building industry-leading products on blockchain technology. We couldn't ask for a better partner to help us fulfill our vision of building a reliable bridge to the Web3 ecosystem.”
"We want to make building Web3 faster and easier, and this partnership with Coinbase helps developers get one step closer to that goal," said Thomas Kurian, CEO of Google Cloud. “We are proud that Coinbase has chosen Google Cloud as its strategic cloud partner and are ready to serve the thriving global Web3 customer and partner ecosystem. Our focus is to make it seamless for all customers to benefit from our scalability, reliability, security and data services so they can focus on innovating in the Web3 space.”
Additionally, Google will use Coinbase Prime for institutional crypto services such as secure custody and reporting.
About Google Cloud
Google Cloud accelerates every organization's ability to digitally transform their business. We deliver enterprise-class solutions that leverage Google's most advanced technology—all in the industry's cleanest cloud. Customers in more than 200 countries and territories turn to Google Cloud as their trusted partner to enable growth and solve their most critical business problems.
Coinbase is building the cryptoeconomy – a fairer, more accessible, efficient and transparent financial system enabled by crypto. The company started in 2012 with the radical idea that anyone, anywhere should be able to easily and securely send and receive Bitcoin. Today, Coinbase offers a reliable and easy-to-use platform to access the broader crypto-economy.