Rich Widmann, head of Web3 strategy at Google Cloud, has outlined details of a new Layer 1 blockchain called the Google Cloud Universal Ledger (GCUL).
In a LinkedIn post on Aug. 26, Widmann said the network is designed for financial institutions and that it combines performance, neutrality and Python-based smart contracts. Widmann emphasized that GCUL is already being tested by CME Group, one of the world’s largest commodities exchanges, to explore tokenization and payments.
CME confirmed earlier this year that it had completed an initial phase of trials with GCUL and planned further testing with market participants in 2025. The project is aimed at modernizing settlement, collateral, and fee processes across institutional finance.
Unlike Stripe’s Tempo and Circle’s Arc, which are closely tied to their respective payment stacks, Widmann presented GCUL as a “credibly neutral” infrastructure layer that any bank or payments firm could adopt.
It is as yet unclear whether a permissioned blockchain controlled by a US corporation can be considered neutral in the same sense as public networks like Ethereum or Solana.
CME has said a broader rollout could come in 2026, though Google has not yet published a timeline.
This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication.
Get the news in your inbox. Explore Blockworks newsletters:
Source: https://blockworks.co/news/google-universal-ledger-blockchain-plans
