Google announced this week that it will start accepting bitcoin as a means of payment for its cloud services early next year. The internet giant said it formed a partnership to make the new payment method viable.
How it started: How it's going: pic.twitter.com/56Efm3BPeT— Documenting Bitcoin 📄 (@DocumentingBTC) October 11, 2022
Accepting Bitcoin as a means of payment is a way that allows merchants around the world to accept payments in a decentralized manner. The new payments experience will benefit Google Cloud customers and partners by increasing the ability to pay for Google Cloud services.
Thomas Kurian, CEO of Google Cloud, said the company's focus is on making access to services “frictionless for all customers to leverage our scalability, reliability, security and data services” so customers can focus on innovating.
In addition, Google will also use its new partner as an investment and custody platform. Although it is not yet clear what specific services offered by the platform Google will leverage.
The collaboration will also bring Coinbase's global data platform to Google Cloud, allowing cryptocurrency developers to access Google's public BigQuery datasets.
“The integration will allow developers to instantly and reliably operate Web3-based systems without the need for expensive and complex infrastructure,” according to the announcement.