Coinbase will use Google Cloud’s compute platform to process blockchain data at scale and add more power to the global reach of its crypto services by using Google's premium fibre-optic network. The company will also build its global data platform on Google Cloud's secure infrastructure and use their data and analytics technologies to provide Coinbase customers with machine learning-driven crypto insights.
As part of the partnership, Google Cloud is positioned to allow select customers, starting with those in the Web3 ecosystem, to pay for its cloud services via select cryptocurrencies. Powered by Coinbase Commerce—which allows merchants globally to accept cryptocurrency payments in a decentralised way—the new payments experience will benefit Google Cloud’s customers and partners by increasing the optionality of payments for Google Cloud services.
Through this partnership, Web3 developers can also access Google BigQuery crypto public datasets, which will be powered by Coinbase Cloud Nodes, across multiple blockchains. The integration will allow developers to operate Web3-based systems without the need for expensive and complex infrastructure.
As Google Cloud representatives said, they want to make building in Web3 faster and easier, and the partnership with Coinbase should help developers get one step closer to that goal. The focus is to make it frictionless for all customers to take advantage of the cloud’s scalability, reliability, security, and data services, so they can focus on innovation in the Web3 space. In addition, Google will use Coinbase Prime, for institutional crypto services, like secure custody and reporting.
It seems that the company is set on big partnerships, as in early August 2022 Coinbase partnered Meta. The social media company added an integration with Coinbase’s wallet, among other third-party crypto wallets, to the Instagram platform. At that moment, the platform began testing digital collectibles with several US creators and collectors who were able to share NFTs on Instagram.
The crypto company also grew its blockchain network, adding NEAR Protocol’s native token to its listings in August. NEAR Protocol is a decentralised application (DApp) platform operating as a competitor of Ethereum. The protocol is also smart-contract capable and a proof-of-stake (PoS) blockchain.
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