Coinbase Partners with Google – Will Bring Crypto Payments to Cloud Services, Web3 Development, and more

Only one day after announcing its success in attaining regulatory approval by the Monetary Authority of Singapore (MAS) to operate within the country, Coinbase has announced something even bigger – a long term partnership with Google.

A Broad Scope

The details of this partnership released so far indicate that while its focus is on Web3 development, its scope will be broad.  This will not simply be one company utilizing a single service on offer by the other.  Rather, each Coinbase and Google intend on various levels of integration, in addition to joint development of certain services.

Coinbase CEO, Brian Armstrong, states, “We are excited Google Cloud has selected Coinbase to help bring Web3 to a new set of users and provide powerful solutions to developers…With more than 100 million verified users and 14,500 institutional clients, Coinbase has spent more than a decade building industry-leading products on top of blockchain technology. We could not ask for a better partner to help execute our vision of building a trusted bridge into the Web3 ecosystem.”

In its communications, Coinbase elaborated on 4 areas in particular which make up this partnership.  These include,

• Select Google Cloud customers will be able to pay/get paid for services with cryptocurrencies
• Developer access to Google Cloud blockchain data
• Google will, “…use Coinbase Prime for institutional crypto services, like secure custody and reporting”
• Coinbase will , “…use Google Cloud’s powerful compute platform to process blockchain data at scale, and enhance the global reach of its crypto services by leveraging Google’s premium fiber-optic network”

While Google Cloud has already established various partnerships over the past few months, as it increased its presence with regards to Web3 development, this most recent involving Coinbase is clearly the most expansive.

Google Cloud CEO, Thomas Kurian, states, “We want to make building in Web3 faster and easier, and this partnership with Coinbase helps developers get one step closer to that goal…We’re proud Coinbase has chosen Google Cloud as its strategic cloud partner, and we’re ready to serve the thriving global Web3 customer and partner ecosystem. Our focus is making it frictionless for all customers to take advantage of our scalability, reliability, security, and data services, so they can focus on innovation in the Web3 space.”

Notably, this partnership will see Coinbase transition various used services to Google Cloud from main competitor Amazon Web Services.

Can’t Be Stopped

As previously stated, this partnership announcement involving Google Cloud is just the latest in a string of positive developments involving Coinbase.  Perhaps intentionally, these announcements (i.e. expanding in to Australia) are coming at a convenient time, potentially overshadowing an ongoing probe into the company’s operations by the SEC.

Regardless, it is clear that Coinbase remains a juggernaut within the digital asset sector, unable to be stopped by such hurdles.