Using a “handful” of customers, the tech giant Google will now let customers pay for cloud services using crypto through Coinbase commerce.
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Google Taps Coinbase for Cloud Services Crypto Payments
According to a report by CBNC, starting in early 2023, Google will start accepting crypto payments from some customers for its cloud services, a report that saw Coinbase stock soars by 5% stock on Tuesday.
As a response to this deal, Coinbase Commerce will move “data-related applications” to Google cloud from Amazon web services cloud.
As per the report, the terms of the deal have not been revealed but Jim Migdal, Vice President of business development at Coinbase, said the deal will align with other Coinbase Commerce arrangements, that is, for every transaction that goes through the system, Armstrong Coinbase will earn a cut.
Currently, Coinbase Commerce supports ten cryptocurrencies including Bitcoin, Ethereum, Tether’s USDT, and Dogecoin.
In addition to this report, CBNC also added that it is not certain whether Google will stick with Coinbase for payments processing as there is competition from a newly crypto-integrated PayPal business service.
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