PANews August 27 news, Google Cloud launched L1 blockchain GCUL. GCUL will use Python-based smart contracts. It aims to become a neutral infrastructure for finance, providing 'native commercial bank on-chain currency', 24/7 capital market infrastructure, payment and agency functions. They plan to open it to the entire Google network, which has 'billions of users' and 'hundreds of institutional partners'.

Currently in the private test network phase, and earlier this year announced a collaboration with the Chicago Mercantile Exchange (CME) to conduct a pilot for tokenized assets. More technical details are planned to be provided in the coming months.