Google Launches GCUL: A New Blockchain Built for Banks and Financial Institutions
The post Google Launches GCUL: A New Blockchain Built for Banks and Financial Institutions appeared on BitcoinEthereumNews.com.
The tech giant confirmed the project on August 27, 2025, positioning it as a neutral platform designed specifically for financial institutions and payment providers. Google Cloud has officially entered the blockchain infrastructure race with its new Layer 1 network called the Google Cloud Universal Ledger (GCUL). Unlike most blockchain networks that use complex programming languages, GCUL runs on Python-based smart contracts. This makes it easier for traditional finance developers to build applications without learning new coding languages. What Makes GCUL Different GCUL operates as a private and permissioned network, meaning only approved institutions can access it. This design focuses on compliance and regulatory requirements that banks need to follow. Rich Widmann, Google’s head of Web3 strategy, explained the platform’s neutral approach in a recent LinkedIn post. “Tether won’t use Circle’s blockchain – and Adyen probably won’t use Stripe’s blockchain. But any financial institution can build with GCUL,” he wrote. Source: @rich_widmann The platform offers several key features that set it apart from other blockchain networks: Single API access for easy integration Built-in compliance tools including KYC checks 24/7 capital markets infrastructure Support for commercial bank money on-chain Stable billing model without volatile gas fees CME Group Partnership Shows Real-World Testing Google’s partnership with CME Group, one of the world’s largest derivatives exchanges, provides concrete evidence of GCUL’s development. CME completed the first phase of integration and testing in March 2025. Terry Duffy, CME Group Chairman and CEO, said the technology “has the potential to deliver significant efficiencies for collateral, margin, settlement and fee payments as the world moves toward 24/7 trading.” The companies plan to begin broader testing with market participants later in 2025. Full commercial services are expected to launch in 2026. Competition Heats Up in Corporate Blockchain Space GCUL enters a competitive market where major tech companies are…
Filed under: News - @ August 29, 2025 11:28 pm