Tech giant Google opens doors to Dogecoin, Shiba Inu and ApeCoin payments
- Dogecoin, Shiba Inu, Ape Coin prices nosedive after the committee responsible for US Open Market Operations expects high inflation to stay.
- Google joined hands with Coinbase to accept cryptocurrencies like Dogecoin (DOGE), Shiba Inu (SHIB) and Ape Coin (APE) for its cloud services.
- Analysts predict Shiba Inu price rally to the triple bottom support level at $0.00001001.
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 supports SHIB, DOGE and APE, accepts crypto payments
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.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
