Google has entered into a strategic partnership with Coinbase, advancing a synergistic relationship between both companies in the fast-growing Web3 ecosystem.
The collaboration will entail Coinbase using Google Cloud as its strategic cloud provider to build and advance its crypto exchange and data services.
Meanwhile, Google will leverage Coinbase’s commerce platform to enable crypto payments for its cloud services starting early next year.
Announced at #GoogleCloudNext: @coinbase has selected Google Cloud to build advanced exchange and data services… and more.
Hear from CEO @brian_armstrong ↓ pic.twitter.com/j6vjexrLIP
— Google Cloud (@googlecloud) October 11, 2022
“Trusted bridge into Web3”
Commenting on the partnership, Coinbase CEO and co-founder Brian Armstrong said: "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."
Excited to share that Google Cloud has selected Coinbase to expand their crypto offerings! Today, I presented at #GoogleCloudNext alongside @ThomasOrTK to introduce Coinbase’s integration with Google Cloud.
— Brian Armstrong (@brian_armstrong) October 11, 2022
Synergistic relationship
Under the partnership, Coinbase aims to implement Google Cloud's powerful computing platform to process blockchain data at scale and enhance the global reach of its crypto services by leveraging Google's premium fibre-optic network.
In addition, it will integrate its global data platform on Google Cloud's secure infrastructure and leverage its leading data and analytics technologies to provide Coinbase customers with machine learning-driven crypto insights.
In return, Google Cloud will enable its select customers starting with those in the Web3 ecosystem, to pay for its cloud services via select cryptocurrencies.
Advancing Web3 goals
Through this collaboration, Web3 developers can also access Google's BigQuery crypto public datasets, which will be powered by Coinbase Cloud Nodes, across leading blockchains.
The integration will allow developers to instantly and reliably operate Web3-based systems without the need for expensive and complex infrastructure.
Google Cloud CEO Thomas Kurian said: "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."