Google selects Coinbase to take cloud payments with cryptocurrencies

By lining up a broad deal with Coinbase, Google might pick up an edge against Amazon and Microsoft by letting clients pay with Bitcoin or other digital coins.

Highlights

• Google’s cloud division will let some customers pay for cloud services with Bitcoin or other digital coins.
• Google Cloud Platform will initially accept cryptocurrency payments from a handful of customers in the Web3 world.
• The deal might succeed in luring cutting-edge companies to Google in a fierce, fast-growing market.
• The cloud business 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.
• Bitcoin, Bitcoin Cash, Dogecoin, Ethereum and Litecoin prices have all declined over 60% in the past year, but the stock is still down over 70% for the year.

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