Google (GOOGL  ) recently announced that it would start allowing crypto payments on the cloud with support from trading platform Coinbase (COIN  ).

This process will begin in the beginning part of 2023 and appeal to Google's cloud infrastructure. Shares of Coinbase increased by about 8.4% this past Tuesday, but the overall stock has been down approximately 70% for the year.

Coinbase Commerce, a forum by which sellers can take cryptocurrency payments on a global level, can now access crypto tools in terms of overall business assessments. Web3 developers will be able to deal with Google Cloud's blockchain data via BigQuery, which will ultimately be driven through Coinbase Cloud's Node service. This move will greatly benefit Coinbase, especially since it will be a way of earning funds without being directly linked to trade systems.

"Many crypto-native companies will go after these white-labeling paths, which is to provide the back-end crypto technology surfaces to traditional players so that they can expand their TAM," Owen Lau, senior analyst at Oppenheimer, said this past Tuesday.

This collaboration between Coinbase and Google will offer users the choice of paying for Google services with cryptocurrencies like bitcoin, ether, or dogecoin. Coinbase earns most of its income from retail. In time, according to Amit Zavery, vice president, general manager, and head of Google Cloud, Google will eventually grant a higher amount of customers the ability to pay with cryptocurrency.

Though the specific conditions of the deal between Coinbase and Google have not yet been revealed, it has been established that Coinbase will make a percentage of the total revenue from transactions that go through.

Google is also seeing how it can utilize a program known as Coinbase Prime, which is a service that safely keeps cryptocurrencies and permits trading on them. According to Zavery, Google will test the waters and "see how (they) can participate" with various cryptocurrency companies.