Call a web service from BPM / business rule

Description

Is it possible to call a web service as part of a business rule for approvals? i.e. Step 3, call a REST API and if the result = Y then proceed to step 4. I know we can do this on-prem but am not clear if this can be done in Cloud.

Was advised by MOS Cloud support to log an idea specifically in this forum.

Use Case and Business Need

The business example here is for procurement contract approval.

The client has an approval rule that requires sign-off from multiple / different authorities based on the dollar amount.

i.e. $50,000 and less can be approved by A, $50,001-$2M must be approved by B, then A, etc.