Wednesday, November 30, 2022
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Google will accept payment for cloud services in cryptocurrency

Google has announced that customers will soon be able to pay for the use of its cloud services with cryptocurrencies. The Google deal with the Coinbase crypto exchange was announced at the Google Cloud Next conference, writes CNBC. As part of this deal, Coinbase, in turn, will start using the Google cloud platform instead of Amazon services. Google Cloud Platform services will initially only accept cryptocurrency payments from a select few customers, but over time, Google will allow many more customers to pay for services using cryptocurrencies.

The Coinbase Commerce platform supports 10 cryptocurrencies, including Bitcoin, Bitcoin Cash, Dogecoin, Ethereum, and Litecoin. The terms of the deal between Google and Coinbase were not disclosed, but it is known that the crypto exchange will receive a percentage of every transaction that goes through it. The cryptocurrency payment feature will be available in early 2023. Google is also considering using the Coinbase Prime service, which securely stores the cryptocurrencies of organizations and allows them to transact. Google plans to explore the possibility of its participation in the management of cryptocurrency assets, the source notes.

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