Google Cloud will start accepting cryptocurrencies

Price Bitcoin stays steadily above $ 19 despite high volatility last week. The world's largest cryptocurrency started last week at around $ 000, and in the middle of the week it recorded a level of just under $ 19.

But a crazy day in the markets on Thursday dropped the price below $ 18 - that was before hitting above $ 200 on eToro platform. Currently, the price is again above $ 19.

Ethereum meanwhile, it faced a similar swing on Thursday, dropping below $ 1 (before jumping above $ 200). It is currently just below the $ 1 mark.

This volatility reflects a hectic moment for markets that seem to react to any economic events, with factors that are particularly unpredictable at the moment, such as further inflation progress and interest rate hikes in the forefront.

BNY Mellon for storing cryptocurrencies

One of the largest and oldest banks in the USA, BNY Mellon, announced that it will start accepting cryptocurrencies from their clients. The company received regulatory approval earlier this year and will now hold cryptocurrencies alongside traditional client institutions.

While the venture is still at a relatively early stage, the lines between traditional and crypto finance are starting to blur. When major institutions like BNY Mellon move into this sector, it is clear that changes are taking place - not only for the cryptocurrency market, but also for old finance.

Gone are the days when cryptocurrencies were seen as a niche sneak peak and customers were doomed to keep their cryptocurrencies on platforms with poor security and guarantees. The purpose of the bank is to safely store clients' property. If this capital is now in cryptocurrencies, it is worth the bank to be prepared for it.

Google Cloud will start accepting cryptocurrencies

Google Cloud has announced that it will start accepting some cryptocurrencies as a form of payment from 2023. The functionality will be provided through Coinbase Commerce and will include cryptocurrency payment facilities such as bitcoin, ethereum, Dogecoin and litecoin.

Interestingly, the move involves Coinbase moving some of its hosting and data to Google Cloud - a growing competitor to Amazon Web Services (AWS) - the hosting giant. This isn't Google's first partnership on blockchain and cryptocurrencies. Google Cloud has collaborated with various projects in the past.

It will not be moving mountains in terms of market valuations. But any example of a large institution deciding to accept cryptocurrencies is a step forward for this sector, which is working hard to provide alternative payment and storage methods for users.