Google Cloud has presented its platform based on blockchain technology of the first layer called Google Cloud Universal Ledger (GCUL). In this way, he wants to introduce “improvements in the field of security, security deposits, settlements and fees, because the world is heading towards trade 24/7”.
Google has its blockchain platform
Rich Widmann, head of the Web3 strategy in Google, confirmed on Tuesday that GCUL has achieved the status of a private test network and was designed as “reliably neutral, highly efficient blockchain” for institutions. The platform is intended to support intelligent contracts based on Python, which distinguishes it from most blockchain ecosystems based on the Solidity programming language. This is to reduce development barriers for financial institutions that already know this programming language.
The giant’s plans have been talked about for a few months, when we learned about cooperation with CME Group, one of the world’s largest exchanges of derivative instruments. CME plans to use GCUL for tokenization and wholesale payments.
Google Cloud Universal Ledger has the potential to bring significant improvements in the field of security, security deposits, settlements and fees, because the world is heading towards trade 24/7
– said Terry Duffy, president and general director of CME Group, commenting on reports.
CME joined the second phase of testing in July, focusing on settlement capabilities. The stock exchange intends to introduce a solution to the market in 2026, says Suzanne Sportue, Operational Director of CME.
Google plans to publish additional technical details of the project in the coming months, and wider market tests are planned for a later part of this year, before the planned premiere in 2026.
Stripe thrown glove?
Googls partly throws a Stripe glove, a payment infrastructure supplier, which invests in the blockchain market and cryptocurrencies. In 2024, the company introduced payment service in Stablecoin (USDC) operating in blockchains. Thanks to this, online stores using Stripe can accept payments in cryptocurrencies, but then receive traditional currencies (e.g. USD, EUR).
