MOUNTAIN VIEW, Calif.—Google is partnering with Coinbase to permit some customers to pay for cloud services with cryptocurrencies. The arrangement begins in early in 2023, CNBC is reporting.
Coinbase said it would draw on Google’s cloud infrastructure.
“The deal, announced at Google’s Cloud Next conference, might succeed in luring cutting-edge companies to Google in a fierce, fast-growing market, where Google’s top competitors do not currently permit clients to pay with digital currencies,” the CNBC report states. “The cloud business helps diversify Google parent Alphabet away from advertising, and it now accounts for 9% of revenue, up from less than 6% three years ago, as it is expanding more quickly than Alphabet as a whole.”
Coinbase, which generates a majority of its revenue from retail transactions, will move data-related applications to Google from Amazon, CNBC added.
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