Coinbase GIobal Inc. COIN, +5.91% shares rose 5% in premarket trades Tuesday after the digital currency brokerage firm said it inked a deal with Google, a unit of Alphabet Inc. GOOG, +0.58%, to use Google Cloud as its strategic cloud partner to build advanced exchange and data services. “We’re ready to serve the thriving global Web3 customer and partner ecosystem,” said Google Cloud CEO Thomas Kurian. “Our focus is making it frictionless for all customers to take advantage of our scalability, reliability, security, and data services, so they can focus on innovation in the Web3 space.” Google will also use Coinbase Prime for institutional crypto services, such as reporting and secure custody. Shares of Alphabet fell fractionally in premarket trades.
