Google Cloud is developing Google Cloud Universal Ledger (GCUL), a layer-1 blockchain aimed at open, neutral infrastructure for finance, compatible with smart contracts written in Python, and has already piloted with CME Group.
GCUL is described by Rich Widmann, Head of Web3 Strategy at Google Cloud, as the result of many years of R&D, aimed at planetary scale, billions of users, and banking-grade functionality; more technical details will be announced in the coming months.
MAIN CONTENT
GCUL is a neutral L1 blockchain, an open infrastructure for financial institutions, supporting smart contracts based on Python.
Google Cloud is piloting GCUL with CME for tokenization and payment; full market testing is expected to begin in 2026.
Competitive landscape: Circle launched Arc, Stripe is developing Tempo; Google relies on Web3 experience from 2018 and significant partnerships.
What is Google Cloud Universal Ledger (GCUL)?
GCUL is a layer-1 blockchain developed by Google Cloud, positioned as open, neutral infrastructure and compatible with smart contracts based on Python, according to Rich Widmann's public sharing on LinkedIn.
Widmann stated that GCUL is the result of many years of R&D at Google, with a planetary scale vision and banking-grade functionality. Google Cloud plans to announce more technical details in the coming months. This positions GCUL as the foundational infrastructure for financial applications, where high scalability, security, and compliance are required.
"GCUL is the result of many years of R&D at Google, designed to be verifiably neutral and compatible with smart contracts written in Python."
– Rich Widmann, Head of Web3 Strategy, LinkedIn, 2025, source: Rich Widmann's personal LinkedIn
Who does GCUL serve in the financial ecosystem?
The primary goal of GCUL is to become the open infrastructure layer for financial institutions, from stablecoin issuers, payment providers to derivatives exchanges, according to Google Cloud's positioning.
The central argument is that neutrality helps reduce "ecosystem friction". In a market where each major provider can build their own chain, a neutral network operated by a trusted third party can support multi-party connectivity and reduce vendor lock-in. This is particularly useful for payment contracts, margining, or custody across organizations.
"Tether will not use Circle's blockchain — and Adyen likely will not use Stripe's blockchain either."
– Rich Widmann, Head of Web3 Strategy, LinkedIn, 2025, source: Rich Widmann's personal LinkedIn
Why is "verifiably neutral" important for finance?
Neutrality reduces conflicts of interest and creates a level playing field for competitors to share payment and custody infrastructure.
For financial institutions, this characteristic also relates to transparent governance, auditing, and the ability to demonstrate impartiality. In the context of 24/7 finance and interoperability between multiple networks, a neutral ledger can help standardize transaction settlement processes and reduce counterparty risk.
How does GCUL differ from Circle's Arc and Stripe's Tempo?
According to the Widmann chart shared, Stripe leverages a $1.4 trillion payment network, Circle focuses on Arc around USDC, while Google Universal Ledger aims for planetary scale, billions of users, and banking-grade functionality.
Both Circle and Stripe are entering L1 blockchain to optimize cash flow related to their core products. Google chooses to become a neutral infrastructure layer, thereby attracting multiple parties to use it rather than directly competing with enterprise customers in the payment field.
Positioning/Strengths Source note Stripe (Tempo) Leverages a $1.4 trillion payment network Widmann chart; report on Tempo collaboration Paradigm Circle (Arc) Open network optimized for stablecoin finance, centered around USDC Circle's Arc introduction Google (GCUL) Planet-scale, billions of users, banking-grade functionality Widmann chart on LinkedIn
What is Stripe building with Tempo?
Stripe is reportedly developing a secret layer-1 project codenamed Tempo with Paradigm, leveraging its massive payment processing capacity and customer base.
With the advantage of a global merchant network and a transaction volume of $1.4 trillion, Stripe can optimize on-chain payments according to its own roadmap. However, this is infrastructure from a payment provider, which may limit the degree of neutrality when integrating with direct competitors.
What is Circle Arc?
Arc is an open network recently announced by Circle, optimized for stablecoin finance centered around USDC, aimed at simplifying the issuance, transfer, and payment of stable assets.
With its position as the issuer of USDC, Circle has the motivation to build specialized infrastructure for its stablecoin flow. This helps enhance efficiency and developer experience, but at the same time strengthens the connections between the network and the USDC product.
What else does GCUL promise to be different?
GCUL focuses on the role of neutral infrastructure, targeting banking-grade standards and a very large user base, according to Widmann's description.
This strategy is aimed at connecting various financial institutions and asset issuers on a common platform. If executed correctly, GCUL could become the standard layer for asset tokenization and cross-border wholesale payments.
How is Google Cloud testing GCUL with CME?
CME Group is partnering with Google Cloud to test the Universal Ledger for the tokenization and payment problem, including wholesale payments and asset settlement.
Pilot testing was announced in March, with plans to start full market component testing in 2026. Details regarding the type of assets have not been disclosed. CME is the core infrastructure of the global derivatives market, with record revenue of $1.7 billion in Q2 2025 and an average volume of 30.2 million contracts per day.
"Universal Ledger can bring significant efficiencies to collateral, margin, settlement, and fees, as the world moves towards 24/7 trading."
– Terry Duffy, Chairman and CEO of CME Group, March 2025, source: CME–Google Cloud partnership announcement
When will the technical announcement and market testing roadmap take place?
Widmann stated that Google Cloud will announce more technical details about GCUL in the coming months, while full testing with market components at CME is expected to begin in 2026.
This timeline shows that Google Cloud is prioritizing validating execution capabilities in a high-demand financial environment before expanding to more partners. Targeting the traditional financial market also requires GCUL to meet compliance and enterprise-grade reliability standards.
Where is GCUL in Google's Web3 strategy?
Google Cloud expanded into blockchain in 2018 by adding Bitcoin data to BigQuery, later supporting Ethereum and over a dozen other networks, and then established a dedicated Web3 department in 2022.
Since then, Google Cloud has partnered with names like Coinbase, Polygon, and Solana. GCUL is the natural next step: moving from data and infrastructure support to building a universal ledger for tokenization and enterprise payments, aligned with the company's cloud capabilities and security.
Context: Why are many tech companies and fintechs building their own L1 blockchains?
The new wave includes Circle with Arc, Stripe with Tempo, Plasma raising $24 million to build a payment-focused L1 for USDt, and Robinhood tokenizing US stocks/ETFs on Arbitrum before moving to its own L2.
The motivation comes from the need to own optimized infrastructure for core products, reduce transaction costs, enhance experience coordination, and control technical roadmaps. However, this creates fragmentation risks. A neutral ledger like GCUL can serve as a bridge between separate ecosystems.
What are the potential impacts on banks and financial institutions?
If GCUL meets banking-grade standards, financial institutions can leverage it to tokenize assets, simplify wholesale payments, and improve margin and settlement processes.
By partnering with entities like CME, GCUL has the opportunity to demonstrate benefits in a complex, high-volume environment. Success will depend on governance, compliance, scalability, and the level of acceptance of key partners in the global financial ecosystem.
Frequently Asked Questions
Is GCUL a public or private blockchain?
Google Cloud describes GCUL as open, neutral infrastructure. No public information confirms whether it is permissionless or permissioned; technical details will be announced in the coming months.
What smart contract languages does GCUL support?
According to Rich Widmann, GCUL is compatible with smart contracts based on Python. Specific parameters and SDKs will be disclosed by Google Cloud later.
When will GCUL have large-scale market testing?
Full market component testing at CME is expected to begin in 2026. Prior to that, tokenization and payment pilots were announced since March.
Does GCUL have a native token?
No public information is available about GCUL's native token. Google Cloud stated that it will announce more technical details in the near future.
What assets are included in the pilot with CME?
Specific assets have not been disclosed. The pilot scope focuses on settling tokenized assets and wholesale payment systems.
Source: https://tintucbitcoin.com/google-len-ke-hoach-universal-ledger/
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