Coinbase to bring more cryptocurrency

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Currently, the platform only accepts ten cryptocurrency payments, including Bitcoin, Ethereum, Litecoin, Dogecoin, and Bitcoin Cash. Google will also use Coinbase's custody service, Coinbase Prime.

The terms of the deal are not public yet; the CEO of Google Cloud, Thomas Kurian, said, "We want to make building in Web3 faster and easier, and this partnership with Coinbase helps developers get one step closer to that goal. It is no secret that Google is interested in crypto and Web3. In January , Google hired former PayPal executive Arnold Goldberg to lead its payment division to explore crypto as a payment method.

SkyMavis, the creator of the popular play-to-earn NFT game Axie Infinity , partnered with Google Cloud in September to help improve the security of its Ronin network and act as an independent validator. There is no question that tech giants are becoming increasingly interested in blockchain and Web3.

With a view to exploring the benefits of the metaverse, last year Facebook rebranded itself as Meta. Recently, it launched the NFT feature for Facebook users. As novel technology becomes more prevalent, the movement to join it will continue.

Cryptocurrency News. Your Money. Personal Finance. Your Practice. Popular Courses. News Cryptocurrency News. Key Takeaways Google has partnered with cryptocurrency exchange Coinbase which lets users pay for cloud services using crypto. The users can pay for the Google cloud services using Bitcoin, Ether, and Dogecoin. The long-term strategic partnership aims to foster Web3's development ecosystem. Article Sources.

Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. A lot of users still keep funds on Coinbase and look at it as merely a trading platform. But more are beginning to wake up and understand that Coinbase is an important gateway to getting started in the crypto sector. People saw us as a speculative gamble. This year we are seeing people move beyond that.

Crypto is not a novel thing anymore, but the hot new asset class for equities. The Coinbase direct listing unites these two sides of finance in the success of this licensed and regulated company.

Traditional investors who purchase Coinbase stock will indirectly speculate on the crypto market and similarly, crypto traders who own Coinbase stocks will have a vested interest in the success of the company. But once the celebrations settle and the mainstream awareness of the cryptocurrency markets grow, eyes will turn to the alternative burgeoning decentralized financial DeFi industry and structures like DAOs decentralized autonomous organizations will become common knowledge.

In the short term I expect to see a narrative forming that highlights the importance of A-tier [cryptocurrency exchanges] in the crypto ecosystem, but the narrative will then likely shift to focus on the alternative structure and benefits that [decentralized exchanges] and DeFi can offer to users.

Check out: Personal Finance Insider's picks for best cryptocurrency exchanges. Check out: Personal Finance Insider's review of Coinbase. Read next. Search markets. News The word News. My Watchlist. Insider logo The word "Insider". Isabelle Lee. Facebook Icon The letter F. Email icon An envelope. It indicates the ability to send an email.

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