Google Cloud has quietly begun developing its own Layer-1 blockchain, dubbed the Google Cloud Universal Ledger (GCUL), specifically to serve the needs of the financial industry. The platform is now operating in a private testnet, signalling a more direct entry into on-chain financial infrastructure.

Designed for Neutrality & Institutional Adoption

Rich Widmann, who leads Web3 strategy at Google Cloud, explained that GCUL is being built to be credibly neutral—unlike blockchains tied to single providers. He emphasised that any institution, whether a stablecoin issuer or a payment firm, could use GCUL without bias. He pointed out that competitors like Tether or Circle may hesitate to adopt each other’s platforms, but GCUL is being positioned as an unbiased choice for all.

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Technical Foundation and Capabilities

GCUL supports Python-based smart contracts, making development more accessible for financial engineers and developers. It also aims to enable native commercial bank money on-chain, functioning as a programmable infrastructure layer for global institutions.

Pilot with CME Group 

In collaboration with CME Group, Google Cloud is piloting GCUL for tokenisation and wholesale payment use cases. Initial integration tests have been completed, with broader trials slated for later in 2025 and a full rollout expected in 2026. GCUL arrives amid rival projects such as Circle’s Arc, which centres on USDC, and Stripe’s Tempo, which leverages its payment network. Unlike these, GCUL positions itself as a flexible, horizontally designed ledger, not tied to a single product or ecosystem.

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Built on Google’s Global Cloud Infrastructure

Google’s global reach gives GCUL the potential to serve billions of users and hundreds of financial partners. By leveraging its cloud infrastructure, Google aims to offer a scalable, institution-grade blockchain foundation.