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Google will allow some customers to pay for cloud services with cryptocurrency

Google has announced a partnership with crypto exchange Coinbase, writes CNBC. According to the deal, Coinbase will use Google's cloud infrastructure, which will allow some customers to choose cryptocurrency as a means of payment.

Cryptocurrency payments will become available in 2023 to “select customers.” This will happen through integration with the Coinbase Commerce service. It will be possible to pay only Google Cloud Platform — a set of cloud services of the company. Over time, the number of users to whom the function is available is planned to be expanded.

Coinbase Commerce works with ten different cryptocurrencies. These include Bitcoin, Dogecoin, Ethereum and Litecoin. The terms of the deal are not disclosed by the parties, but Coinbase will receive a percentage of all transactions.

The deal is expected to help Google develop its cloud business and increase competition in a segment where the company's main rivals do not yet allow their customers to pay for services with cryptocurrency. The cloud business is helping to diversify Alphabet, Google's parent company, away from ads. At the moment, this segment accounts for 9% of the company's total revenue, while three years ago, the cloud business brought in less than 6% of revenue.

Google will allow some customers to pay for cloud services with cryptocurrency