Google is the most recent company to join the growing list of online platforms where accepting cryptocurrency payments are now accepted. The dominant search engine has announced that beginning early in 2019, it would start accepting cryptocurrency payments for Google Cloud through Coinbase.
The information was released as part of Google's Cloud Next conference, which got underway last night. As implied by the name, Google's cutting-edge cloud computing division, which accounts for around a tenth of its overall revenue, is showcased at the conference. By integrating with Coinbase Commerce, a well-liked cryptocurrency company payment service, Google Cloud will make this possible. According to Google Cloud Vice President and General Manager, Amit Zavery, it would initially only start receiving payments from a small number of clients.
Coinbase Commerce is therefore anticipated to switch "data-related apps" from Amazon Web Services to Google's cloud. Although the specifics of this agreement are not yet known, Jim Migdal, Coinbase's VP of business development, explained that Coinbase will receive a cut of every transaction performed via the system. It's unclear how the transaction will relate to existing Coinbase Commerce agreements.
For the uninitiated, ten cryptocurrencies, including Bitcoin, Ethereum, Dogecoin, and Tether, are currently supported by Coinbase Commerce, making all of them valid payment options at Google Cloud. However, there is rumour that Google won't continue using Coinbase for its cryptocurrency payments due to competition from a recently launched PayPal business service that integrates cryptocurrency. However, the former is currently at the top of its game, so it is not going anywhere anytime soon.
