At the current time, many top companies are interested in blockchain and crypto businesses. Another giant company is taking a similar step. The search giant Google announced on Thursday that it is pairing up with Coinbase.
The pair-up ensures that Google can now accept crypto payments for some of its cloud services. The payment method will be made available to only a handful of customers who are involved in the Web 3.0 industry after launching the payment system in 2023.
Google accepting crypto payments for Web 3.0
Google announced this news at Google Cloud Next Conference just after Coinbase announced it would build its data application on Google Cloud instead of Amazon Web Service (AWS). For this purpose, to process the blockchain data, Coinbase will use Google’s cloud computing engine. The main aim of this long partnership aims to boost Web 3’s development ecosystem. A certain percentage of those payments will be received by coin base too.
Just after this announcement, Coinbase shares went up over 6% to $71.32 on Tuesday afternoon.
Thomas Kurian, Chief Executive Officer of Google Cloud said that “We want to make building in Web3 faster and easier, and this partnership with Coinbase helps developers get one step closer to that goal”.
In early 2022, Google appointed Arnold Goldberg, ex former PayPal executive to lead Google’s payment division to integrate crypto as a payment method. Once the payment system rolls out, customers will be able to pay on Dogecoin, Ether, and Bitcoin.
There is no doubt that tech companies are investing in blockchain and Web 3.0. Recently Facebook has renamed itself from “Facebook” to “Meta” to explore metaverse technology. Microsoft invested $ 20 million to develop Web 3.0. Google has invested nearly $1.5 billion in crypto companies.
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