With its recent deal with Google, crypto exchange Coinbase could be setting a precedent for other crypto-based companies looking to work with traditional firms, according to Owen Lau, senior analyst at investment firm Oppenheimer.
He told CoinDesk TV Coinbase's partnership with the tech behemoth is also a sign of “validation” for the digital assets industry.
“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,” or total addressable market, Lau said during an appearance on CoinDesk TV’s “All About Bitcoin” on Tuesday.
Earlier this week, Google said it would be tapping Coinbase, the second-largest crypto exchange by volume in the world, to accept crypto payments via Coinbase’s custody service, Coinbase Prime. Google is turning to Web3 in a bid to build out speed and interoperability for users.
The partnership, which will begin next year, will give...
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