Google-parent Alphabet’s cloud computing business will accept customer payments using cryptocurrencies starting in early 2023. Google stock edged down a fraction amid the news, which came Tuesday at the company’s annual cloud computing conference. The crypto payment platform involves a partnership with Coinbase. Crypto stocks have been under pressure. But COIN stock popped 4.7% to close at 70.16 on the stock market today. GOOGL stock slipped 0.7% to 97.18. Coinbase will also use the Google Cloud platform for processing its blockchain-based crypto services. Bitcoin’s shared public ledger, called a blockchain, is replicated on networked computers around the world. Further, Coinbase will use Google data analytics for crypto consumer services. In turn, Google will use Coinbase Prime for institutional crypto services. And on top of all that, the venture could help promote Web3, which many see as a next-generation internet. “We want to make building in Web3 faster and easier, and this partnership with Coinbase helps developers get one step closer to that goal,” Google Cloud Chief Executive Thomas Kurian said in the release. “We’re proud Coinbase has chosen Google Cloud as its strategic cloud partner and we’re ready to serve the thriving global Web3 customer and partner ecosystem.”
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