Google Launches GCUL to Compete With Blockchain and Fintech Giants

• Google Cloud unveiled its own blockchain platform GCUL aiming to rival Ripple, Stripe, and Circle.
• The system supports multi-currency settlements, tokenized assets, and compliance-ready financial infrastructure for institutions.

Google Cloud has introduced the Google Cloud Universal Ledger (GCUL), its own Layer-1 blockchain platform built for cross-border settlements and digital assets. The launch signals Google’s attempt to challenge established rivals such as Ripple, Stripe, and Circle in the global payment infrastructure.

It was officially introduced in March as part of a mutual announcement with CME Group. They both outlined pilot projects with a focus on wholesale payments and tokenized assets. CME described the initial integration as a way of enabling low-cost settlement on a 24/7 basis with direct testing scheduled later this year.

Rich Widmann, Global Head of Strategy for web3 at Google Cloud, explained that GCUL is created for financial institutions and uses Python smart contracts. He also stated that GCUL will become a neutral layer of infrastructure, as opposed to proprietary methods, which restrain participation.

GCUL’s Three Core Functions

GCUL has three key features: simplicity, flexibility, and security. It has an integrated API for supporting multiple currencies and assets, supporting scale use cases like automated payment, and ensuring accounts are verified with KYC and an accepted fee structure at the private level.

Widmann highlighted that the system was specifically designed for finance with “native commercial bank money on-chain” and round-the-clock capital markets infrastructure. He further compared with competitors on a chart and pointed out that the global reach of Google would allow for broad adoption. 

The project now operates on a private testnet, following the former pilot with CME. Bigger rollouts are ahead, with new services potentially arriving as early as 2026 if testing remains on track.

Rising Competition in Tokenized Assets

Google’s launch comes at the same time as there is a significant surge in tokenized real-world assets. Ripple’s XRPL saw 2,260% tokenized RWAs growth with immense momentum that GCUL will have to compete with. Market participants now view tokenization as long-term growth potential.

Singapore’s DBS Bank recently announced plans for issuing tokenized structured notes on Ethereum, illustrating how mainstream entities are building participation. This development in the finance space indicates the competition Google will have for gaining adoption for its blockchain service.

Circle has also announced Arc, a Layer-1 blockchain specifically for stablecoin payments, FX, and capital markets, due for public testing later this fall. Meanwhile, Stripe is developing its own Layer-1 solution, called Tempo, which will facilitate high-performance solutions for payment.

Alongside the rollout of the blockchain, Google Cloud also reinforced its presence in crypto arenas with an increased stake in Bitcoin miner CleanSpark. This signals a wider corporate bet on digital currencies and payment technologies.