Google to cooperate with cryptocurrency exchange Coinbase

Google has announced that in early 2023 it will allow customers to pay for cloud services in cryptocurrency. The tech giant has launched a collaboration with the Coinbase cryptocurrency exchange. Google will also explore the possibilities of using the Coinbase Prime service for storing and trading cryptocurrencies. Meanwhile, the Coinbase crypto exchange will move some of its programs to the Google Cloud from Amazon Web Services.

«We're thrilled that Google Cloud has chosen Coinbase to bring Web3 technologies to a new group of users and powerful developer solutions,» said Brian Armstrong, Coinbase co-founder and CEO. — «With more than 100 million verified users and 14,500 institutional customers, Coinbase has spent more than a decade developing leading blockchain-based products. We couldn’t have asked for a better partner to help realize our vision of building a trusted Web3 ecosystem.»

According to the press release, Google will start accepting cryptocurrency payments for cloud services early next year. Earlier in May, the tech giant reported that it was exploring the possibility of adding support for payments in digital currencies. Jim Migdal, Coinbase’s vice president of business development, noted that Coinbase has been in discussions with Google for several months, and the talks about supporting commercial transactions, using the cloud, and Prime service are taking place in parallel.

In September, Google monitored search engine users for cryptocurrency queries. According to Google Trends, the number of searches for bitcoin and ethereum fell by 83% compared to the peak in 2021. According to analysts, users' interest in cryptocurrencies coincides with the market situation: when digital assets fall in price, the number of searches for them also decreases, and when cryptocurrencies rise, users start to Google information about them with double interest. Given the prolonged bear market, Google searches for bitcoin and ethereum are at their lowest level since 2021.