Coinbase’s commerce service now supports 10 different digital currencies.
It would begin accepting cryptocurrency payments in the first quarter of 2023.
Google’s latest partnership is a show of support for digital currencies. The number of countries using cryptocurrency has been growing recently. Several major corporations are also beginning to see web3’s potential.
Google said earlier this year that it was assembling a service team to support blockchain developers. Since the internet giant could not tolerate cryptocurrency marketing on its site, it had a negative outlook on the industry. In June of last year, though, Google said that it was rethinking the policy and would begin enabling them.
Opening to Limited Customers
The Google Cloud business said in January of this year that it was building a team to help customers with their cryptocurrency requirements. The company acknowledged looking into the possibility of cryptocurrency payments from customers.
To facilitate the use of cryptocurrency in the payment of cloud services, Google said on Tuesday that it will be partnering with Coinbase. The IT giant has announced that it would begin accepting cryptocurrency payments in the first quarter of 2023. Google made the news at their “Cloud Next Conference.” The partnership will help the IT behemoth maintain its lead over the competition.
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Integrating with Coinbase’s Commerce Service will enable a small number of customers to make purchases using cryptocurrency. Time will pass before the feature is made available to a wider audience. Coinbase’s commerce service now supports 10 different digital currencies.
The dialogue has been going on for a while, according to Coinbase’s vice president of business development Jim Migdal. Google is also investigating the feasibility of using Coinbase Prime as a safe repository for institutional cryptocurrency.