Google will start accepting payments in cryptocurrency
Thanks to the integration of services of one of the largest cryptocurrency exchanges, some customers of the digital giant will be able to pay with virtual assets for cloud services
Some Google customers will be able to pay for cloud services with cryptocurrency at the beginning of 2023, representatives of the corporation said at Google Cloud Next conference, reports CNBC. This will be possible due to cooperation of the corporation with one of the leading cryptocurrency exchanges Coinbase.
Initially, Google will accept payments in cryptocurrency from a limited number of customers through the integrated service Coinbase Commerce, said Amit Zaveri, Google Cloud platform vice chairman and general manager in an interview with the U.S. publication. Currently, Coinbase Commerce maintains 10 different currencies, which include bitcoin, Bitcoin Cash, Dogecoin, Ethereum and Litecoin.
Eventually, Google will allow a lot of more customers to tap into the Crypto-currency, Zaveri says. He also noted that the digital giant is considering using its Coinbase Prime service to store and transact in cryptocurrency.
At the same time, Coinbase said it will use Google's cloud infrastructure for storage. The exchange will migrate its applications from Amazon Web Services' cloud service, which it has used for years, Coinbase Vice President of Business Development Jim Migdal said. He also noted that Coinbase will receive a percentage of transactions when it makes cryptocurrency payments. Further conditions of the transaction were not released.
The adoption of cryptocurrencies is spreading more widely. For example, in early October, a McDonald's restaurant in Lugano, Switzerland, began accepting cryptocurrency for payment. And in the summer it became known that digital assets are accepted by resort hotels in the Maldives and Thailand.