Google Cloud's vice president of Financial Services, said that the firm has established a Google Cloud Digital Assets Team that will assist clients in creating, trading, storing value, and launching new products on blockchain-based platforms.
The blog read:
“This new team will enable our customers to accelerate their efforts in this emerging space and help underpin the blockchain ecosystems of tomorrow.”
It has been reported that the blog points to blockchain and distributed-ledger-based solutions like Hedera, Theta Labs, and Dapper Labs as examples of firms that have already implemented Google Cloud, adding that the Digital Assets Team will conduct a variety of activities in both the near and long term.
Likewise, dedicated node hosting/remote procedure call (RPC) nodes for developers, node validation and on-chain governance with some partners, and assisting users and developers in hosting their nodes on the “cleanest cloud in the industry" are some of the activities the team will carry out.
The announcement also reveals that, as the new team expands, it will be examining ways to allow Google Cloud customers to make and receive payments using cryptocurrencies. This is not Google's first foray into the crypto space. Google Cloud's parent firm, Google, recently hired a PayPal veteran to assist with the development of Google Pay as it continues to look towards the future and pursue crypto.
Thus, Google teamed up with Coinbase in June, allowing customers of the exchange to pay for items and services using Google Pay. In October, Google and Bakkt joined forces to allow customers of the exchange to spend their cryptocurrency through Google Pay.