Google Cloud has announced its entry into blockchain protocol development with the launch of the Google Cloud Universal Ledger (GCUL), a new Layer 1 blockchain platform designed for financial institutions. The project was revealed by Rich Widmann, Head of Strategy at Google Cloud, who described GCUL as a neutral and high-performance foundation for banks, exchanges, and companies building decentralised financial services.
The Universal Ledger is built to support cross-border settlements, asset tokenisation, and Python-based smart contracts, making it different from existing proprietary platforms. According to Widmann, “GCUL is being built as a shared base layer for financial institutions globally.” By offering open access, Google aims to provide banks and other institutions with settlement rails that are not tied to any single ecosystem.
The initiative has already begun, with Google Cloud and the CME Group starting the first phase of testing and integration. The platform is designed with five main priorities: neutrality, programmability through Python, institutional focus, scalability, and proven integration. Supporting Python smart contracts is intended to make adoption easier for developers already familiar with the language.
Google says the Universal Ledger will initially focus on tokenised assets, wholesale payments, and collateral management. These are areas where financial systems are increasingly looking for blockchain-based solutions to improve efficiency and trust.
The move signals Google’s broader push into blockchain beyond its role as a cloud hosting provider. With GCUL, Google is positioning itself against players such as Circle and Stripe by building infrastructure that could potentially support hundreds of institutions and billions of users worldwide. Backed by Google Cloud’s scale, the ledger is expected to become a powerful tool for global financial technology.
The announcement comes at a time when blockchain adoption is gaining momentum globally. Governments, banks, and payment providers are already experimenting with tokenisation pilots, and Google’s step positions it at the centre of this next wave of financial innovation.
More details about the technical specifications and release timeline of GCUL are expected in the coming months. For now, the project marks a significant step in Google’s mission to make blockchain a backbone of institutional finance and large-scale payments.
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