Internet giant Google today said that it will use Coinbase to accept crypto payments for cloud services early next year.
Google announced the deal at this year’s Cloud Next, a conference where Google pitches its state-of-the-art cloud computing business (which accounts for nearly a tenth of its revenue) to companies.
Google Cloud will begin accepting crypto payments from a “handful” of customers through integration with Coinbase Commerce, a payments tool for businesses, according to Google Cloud Vice President and General Manager, Amit Zavery.
Coinbase Commerce is expected to move “data-related applications” from Amazon Web Services’ cloud to Google’s.
The terms of the deal have not been disclosed, but according to Jim Migdal, Vice President of business development at Coinbase, the deal will follow other Coinbase Commerce arrangements, earning Coinbase a cut of every transaction that goes through the system.
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Coinbase Commerce currently supports ten cryptocurrencies, including Bitcoin, Ethereum, Dogecoin, and Tether.
The report also said that there “wasn’t a guarantee” that Google would stick with Coinbase for payments processing, and there’s competition from a newly crypto-integrated PayPal business service.
For now, though, the San Francisco-based crypto exchange appears to be the top choice right now.
