Ekta Mourya
FXStreet
Google expressed support for cryptocurrencies through its acceptance of Dogecoin, Shiba Inu, Ape Coin and other cryptos as payment for cloud services. Google’s support of cryptocurrencies could drive their adoption and utility.
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Google collaborated with Coinbase to accept cryptocurrencies as payment for its cloud services. While Google’s stance on crypto was negative before June 2021, the tech giant disclosed that it was revisiting a policy to enable cryptocurrencies. Google will start accepting crypto payments early in 2023.
The tech giant announced it would be accepting crypto payments in the Google Cloud Next Conference and that it would facilitate the development through integration with one of the largest cryptocurrency exchanges, Coinbase. Crypto payments will be rolled out to a handful of customers involved in the Web3 industry before opening it to a wider audience.
Thomas Kurian, CEO of Google Cloud was quoted as saying:
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 has unveiled plans to use Coinbase’s custody service, Coinbase Prime. The tech giant has added several crypto features and services recently, besides accepting cryptocurrencies as payment. One of the features is that Ethereum wallet balances are visible when an address is looked up on Google.
Google Cloud is lending support to the growth of early-stage Web3 and blockchain startups through its partnership with BNB Chain.
Brian Armstrong, co-founder and CEO of Coinbase said,
We could not ask for a better partner to help execute our vision of building a trusted bridge into the Web3 ecosystem.
Owen Lau, an analyst at investment bank Oppenheimer, believes more partnerships in the crypto ecosystem will follow as the crypto economy expands. Coinbase therefore has the opportunity to act as an integrated digital asset enabler, rather than a pure-play cryptocurrency exchange.
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Bitcoin price witnesses a massive surge in volatility after the release of the Consumer Price Index (CPI) on Thursday. An initial drop in price is later taken over by buyers, resulting in a sharp move to the upside.
XRP price continues to remain strong relative to other altcoins despite the recent downturn. Regardless, the crypto markets seem to be shifting their bias to favoring bulls, so investors can expect Ripple to continue its ascent.
TRON price has been hovering inside a bearish setup that forecasts a massive crash. However, due to the latest developments, things are starting to flip bullish.
The last two quarters have been full of surprises for the crypto community, with the third quarter in particular, being the most volatile.
Bitcoin price has been in a steady consolidation for more than two weeks and shows no signs of directional bias. However, the Non-Farm Payrolls (NFP) announcement on October 7 could trigger a volatile episode for BTC that could resolve its range tightening and establish a directional bias.
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