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TL;DR

• 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.

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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. 

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