Google Cloud partners Coinbase for crypto payments, data services

Coinbase, the largest cryptocurrency exchange in the U.S., has formed a strategic Web 3.0 partnership with Google Cloud, the Nasdaq-listed exchange said in a statement on Tuesday. 

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Fast facts

• As part of the partnership, Google Cloud will allow select customers to pay for its cloud services using cryptocurrencies through the exchange’s crypto payments platform, Coinbase Commerce.  

• Google will also have access to Coinbase Prime for institutional crypto services, like custody. 

• Coinbase has over 14,500 institutional clients, including some of the largest traditional financial firms, the company said in the statement. 

• Coinbase will build its global data platform on Google Cloud’s infrastructure as well as use the data and analytics technologies to provide Coinbase customers with machine learning-driven crypto insights, it said in the statement.

• Coinbase said it will also use Google Cloud’s compute platform to process blockchain data at scale. 

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