Hero's Image

Bullish signs in a bear market: Google Cloud and Coinbase merge forces



  • Google Cloud and Coinbase have announced a strategic partnership that promises to involve three of Coinbase’s main business units.

  • The integration between Google Cloud's blockchain data and Coinbase Cloud’s Node service will allow developers to operate Web3-based systems without the need for expensive and complex infrastructure.

  • Google Cloud will enable select customers to pay for its cloud services via Coinbase Commerce using cryptocurrencies.

  • Google will also use Coinbase Prime, an integrated solution that provides secure custody and an advanced trading platform for institutional investors and corporations.

  • This partnership is an important sign of more institutional adoption of crypto assets, a key validation for the crypto industry and its long-term investment case.



The most seasoned investors in the crypto space recognize that bear markets are “moments to build.” These are the times when projects that solve real-world problems through technology and strategic partnerships can serve as solid backbones for the next crypto bull run. One of the best and most consequential recent examples of this dynamic is the partnership between Coinbase and Google Cloud.

What has happened?


Coinbase, primarily an exchange, also possesses a suite of business segments that aim to give retail and institutional clients a trusted and easy-to-use way for accessing the crypto-economy. In this partnership, Coinbase has selected Google Cloud as a strategic cloud provider to build advanced exchange and data services. The deal involves three main Coinbase verticals: 


  1. 1. Coinbase Commerce: a platform that helps merchants anywhere in the world to accept cryptocurrency payments. Merchants can get paid in crypto (including BTC and ETH), and access powerful tools for crypto integration and business analysis.

  2. 2. Coinbase Cloud Node: offering instant and reliable access to blockchains without burdening clients to run their own infrastructure. With the new partnership, Web3 developers will be able to access Google Cloud's blockchain data through BigQuery, allowing them to reliably operate Web3-based systems without the need for expensive and complex infrastructure. 

  3. 3. Coinbase Prime: an integrated solution that provides secure custody and an advanced trading platform for institutional investors and corporates. Google joins a pool of more than 14,000 institutional clients.


Why should investors care?


This partnership is yet another sign that bear markets are when most of the “heavy work” is done within the crypto ecosystem. Coinbase’s partnership with tech giant Google is an important sign of increasing institutional adoption, a key validation for the whole digital assets industry. 

It’s also a positive sign to see Coinbase gathering and accruing a juggernaut of investors and clients from traditional markets. In August, the world's largest asset manager, BlackRock, also chose Coinbase Prime to provide institutional client access to crypto in another big movement of a large traditional institution into the crypto space. In the same way, we believe the Coinbase and Google Cloud alliance is a good indication of a wave of new promising initiatives. 

The potential outcome for this partnership is very promising, and another example of an event investors should be paying attention to during this bear market. Together, these events are creating an even stronger long-term investment case for crypto and the potential for the next bull run. 


This material expresses Hashdex Asset Management Ltd. and its subsidiaries and affiliates (“Hashdex”)'s opinion for informational purposes only and does not consider the investment objectives, financial situation or individual needs of one or a particular group of investors. We recommend consulting specialized professionals for investment decisions. Investors are advised to carefully read the prospectus or regulations before investing their funds. The information and conclusions contained in this material may be changed at any time, without prior notice. Nothing contained herein constitutes an offer, solicitation or recommendation regarding any investment management product or service. This information is not directed at or intended for distribution to or use by any person or entity located in any jurisdiction where such distribution, publication, availability or use would be contrary to applicable law or regulation or which would subject Hashdex to any registration or licensing requirements within such jurisdiction. No part of this material may be (i) copied, photocopied or duplicated in any form by any means or (ii) redistributed without the prior written consent of Hashdex. By receiving or reviewing this material, you agree that this material is confidential intellectual property of Hashdex and that you will not directly or indirectly copy, modify, recast, publish or redistribute this material and the information therein, in whole or in part, or otherwise make any commercial use of this material without Hashdex’s prior written consent. 

Investment in any investment vehicle and cryptoassets is highly speculative and is not intended as a complete investment program. It is designed only for sophisticated persons who can bear the economic risk of the loss of their entire investment and who have limited need for liquidity in their investment. There can be no assurance that the investment vehicles will achieve its investment objective or return any capital. No guarantee or representation is made that Hashdex’s investment strategy, including, without limitation, its business and investment objectives, diversification strategies or risk monitoring goals, will be successful, and investment results may vary substantially over time. Nothing herein is intended to imply that the Hashdex s investment methodology or that investing any of the protocols or tokens listed in the Information may be considered “conservative,” “safe,” “risk free,” or “risk averse.”

Certain information contained herein (including financial information) has been obtained from published and non-published sources. Such information has not been independently verified by Hashdex, and Hashdex does not assume responsibility for the accuracy of such information. Hashdex does not provide tax, accounting or legal advice. Certain information contained herein constitutes forward-looking statements, which can be identified by the use of terms such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue”  “believe” (or the negatives thereof) or other variations thereof. Due to various risks and uncertainties, including those discussed above, actual events or results, the ultimate business or activities of Hashdex and its investment vehicles or the actual performance of Hashdex, its investment vehicles, or digital tokens may differ materially from those reflected or contemplated in such forward-looking statements. As a result, investors should not rely on such forward- looking statements in making their investment decisions. None of the information contained herein has been filed with the U.S. Securities and Exchange Commission or any other governmental or self-regulatory authority. No governmental authority has opined on the merits of Hashdex’s investment vehicles or the adequacy of the information contained herein.

Logo Hashdex
The material contained on this website is for informational purposes only and Hashdex, and its affiliates, is not soliciting any action based upon such material. The material is not to be construed as investment advice nor is it to be construed as recommendation, offer or solicitation to buy or sell any financial instrument or product or to adopt any investment strategy. Further, the material contained on this website does not constitute a representation that the financial instruments described therein are suitable or appropriate for any person. Past performance is not an indication of any future performance. This website may contain advertising of financial products.